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kakunara
Returning Member

Withdrawing money from 401(a) account to cover moving expenses out of the US

I withdrew some money from my retirement account because I left the US, and use the money to cover the moving expenses. Does this qualify as the reason in "Other Reason" option on the page entitled "These Situations May Lower Your Tax Bill"?

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3 Replies
dmertz
Level 15

Withdrawing money from 401(a) account to cover moving expenses out of the US

Paying moving expenses is not an exception to the early-distribution penalty.  Do not enter it under "Other Reason."

kakunara
Returning Member

Withdrawing money from 401(a) account to cover moving expenses out of the US

@dmertz Does that mean there is another way/place to enter it?

dmertz
Level 15

Withdrawing money from 401(a) account to cover moving expenses out of the US

Unless you have one of the listed exceptions or one of the exceptions listed in the Learn More for Other Reasons, you are subject to the 10% early-distribution penalty.  You have not mentioned any such exceptions.

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