Rule of 55, laid off and emptied accounts

[bupp]

I was laid off from my job in 2024 at the age of 57. I was unemployed for 8 months and used up all of my unemployment.

I participated in a 401k and a Roth while I worked there.

I emptied both retirement accounts (paid some taxes on the 401k, none on the Roth).
I also have a personal IRA that I withdraw from also during my unemployment period.

My 1099 R, Box 7 code 1 (Early distribution (except Roth), no known exception)

Do I qualify for a penalty exception of any kind, including The Rule of 55?
Is my 1099 R Box 7 wrong?
If I do qualify, which of my 3 accounts would it apply to? 

[DawnC]

See Separation of Service in this TurboTax FAQ.   Enter all of your 1099-R form as is.   After each one you will be asked follow-up questions that will cover the penalty exceptions.   

How does a 1099-R affect my taxes?

IRS Tax Topic 558 - You won't have to pay the 10% early withdraw penalty.   Distributions made to you after you separated from service with your employer after attainment of age 55 are exempt from the penalty.   

[dmertz]

The age-55 exception does not apply to the distributions from the IRA, only to the taxable amount of the distributions from the traditional and Roth 401(k) accounts.