You'll need to sign in or create an account to connect with an expert.
The distribution will be taxed however the 10% penalty should be waived if you qualify :
General "hardship" is not an exception the the 10% early-distribution penalty. To avoid the penalty he would have to qualify for one of the specific exceptions listed in the reference provided by Critter.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
MelMel
New Member
freefall951
New Member
jameshengel
New Member
RB1970
New Member
JosephDan2000
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.