1403067

When entering the 1099R we cashed out the retirement plan due to lay off when the employer closed the facility in our state, do we qualify for a reduced tax?

posted

Connect with an expert

1 Reply

When entering the 1099R we cashed out the retirement plan due to lay off when the employer closed the facility in our state, do we qualify for a reduced tax?

Unfortunately, no. Please click here to see the exceptions to the 10% penalty on early distributions.

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

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post