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dstew213
New Member

Withdrawal from my IRA, I'm 57 and I'm Disable, do I still have to pay 10% penalty?

 
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Rachel_W
Expert Alumni

Withdrawal from my IRA, I'm 57 and I'm Disable, do I still have to pay 10% penalty?

Normally when you take a withdrawal from your IRA before the age of 59 1/2, you are subject to a 10% penalty on the distribution.  

However, the IRS does provide some Exceptions to this penalty.  

One of the Exceptions to the 10% Penalty is if your withdrawal was made "Due to Total and Permanent Disability".

See the TurboTax FAQ below for more information about Exceptions to the 10% Penalty on Early Withdrawals.

https://ttlc.intuit.com/replies/3301632

[Edited 01.27.18 | 4:34PM|

View solution in original post

3 Replies
Rachel_W
Expert Alumni

Withdrawal from my IRA, I'm 57 and I'm Disable, do I still have to pay 10% penalty?

Normally when you take a withdrawal from your IRA before the age of 59 1/2, you are subject to a 10% penalty on the distribution.  

However, the IRS does provide some Exceptions to this penalty.  

One of the Exceptions to the 10% Penalty is if your withdrawal was made "Due to Total and Permanent Disability".

See the TurboTax FAQ below for more information about Exceptions to the 10% Penalty on Early Withdrawals.

https://ttlc.intuit.com/replies/3301632

[Edited 01.27.18 | 4:34PM|

Rachel_W
Expert Alumni

Withdrawal from my IRA, I'm 57 and I'm Disable, do I still have to pay 10% penalty?

Edited to add link to TurboTax FAQ.
dstew213
New Member

Withdrawal from my IRA, I'm 57 and I'm Disable, do I still have to pay 10% penalty?

Thank you I'm on SSD and the DR's say it permanent 4 lumber surgery, 1 neck, both roto cuff
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