Re: I cashed out my Teachers Retirement Fund in 2019 to pay of medical debt. I want to be sure th...

I cashed out my Teachers Retirement Fund in 2019 to pay of medical debt. I want to be sure this is ok. It was over 7.5% of my AGI for 2018. Or is it AGI 2019?

posted

The AGI for 2019 is applicable to the distribution. You should qualify for the waiver of 10% early withdrawal penalty based on the excess over the 7.5% AGI for 2019.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.

Expert does your taxes

Do it yourself

Resources

Support

I cashed out my Teachers Retirement Fund in 2019 to pay of medical debt. I want to be sure this is ok. It was over 7.5% of my AGI for 2018. Or is it AGI 2019?

I cashed out my Teachers Retirement Fund in 2019 to pay of medical debt. I want to be sure this is ok. It was over 7.5% of my AGI for 2018. Or is it AGI 2019?

Get more help

Ready to start your taxes?

Do you have a TurboTax Online account?

I cashed out my Teachers Retirement Fund in 2019 to pay of medical debt. I want to be sure this is ok. It was over 7.5% of my AGI for 2018. Or is it AGI 2019?

I cashed out my Teachers Retirement Fund in 2019 to pay of medical debt. I want to be sure this is ok. It was over 7.5% of my AGI for 2018. Or is it AGI 2019?

Get more help

Ready to start your taxes?

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert