I need to take a 59.5 withdraw from my retirement to cover oral surgery. I am paying the 20% penalty but on next years taxes is there a break if the reason for the withdraw is medical and is oral surgery considered medical?
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Oral surgery is a deductible medical expense unless it is cosmetic surgery.
There is a penalty exemption for medical expenses but it only applies to expenses that are more than 7.5% of your adjusted gross income and only applies to the share of the expense that is more than the 7.5% floor.
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