Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 12, 2025 2:33:08 PM

retirement distributions for eligible emergency expenses. Does a foreclosure or reposesión of an auto count.

0 1 544
1 Replies
Expert Alumni
Mar 12, 2025 3:00:48 PM

Yes, it can count.  Section 72(t)(2)(I)(iv) provides that the term “emergency personal expense distribution” means any distribution made from an applicable eligible retirement plan to an individual for purposes of meeting unforeseeable or immediate financial needs relating to necessary personal or family emergency expenses.   See IRS - Guidance for Retirement plan distributions on certain exceptions.