topic I have applied for social security disability and had to take an early withdrawal from my 401k can i take a permanent disability credit for 2015? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/i-have-applied-for-social-security-disability-and-had-to-take-an-early-withdrawal-from-my-401k-can-i/01/142365#M10905 <P>I'm trying to finish my 2015 return.&nbsp; In 2015, I took a cash withdrawal after being separated/terminated from my employer.&nbsp; I didn't know there was such thing as&nbsp;"hardship" withdrawal at the time.&nbsp; I have applied for social security disability and am still waiting.&nbsp; I was 50 or 51years old at the time.&nbsp; can I&nbsp;get a permanently disabled credit?&nbsp; <BR /></P> Sat, 01 Jun 2019 07:09:27 GMT acomegys30 2019-06-01T07:09:27Z I have applied for social security disability and had to take an early withdrawal from my 401k can i take a permanent disability credit for 2015? https://ttlc.intuit.com/community/retirement/discussion/i-have-applied-for-social-security-disability-and-had-to-take-an-early-withdrawal-from-my-401k-can-i/01/142365#M10905 <P>I'm trying to finish my 2015 return.&nbsp; In 2015, I took a cash withdrawal after being separated/terminated from my employer.&nbsp; I didn't know there was such thing as&nbsp;"hardship" withdrawal at the time.&nbsp; I have applied for social security disability and am still waiting.&nbsp; I was 50 or 51years old at the time.&nbsp; can I&nbsp;get a permanently disabled credit?&nbsp; <BR /></P> Sat, 01 Jun 2019 07:09:27 GMT https://ttlc.intuit.com/community/retirement/discussion/i-have-applied-for-social-security-disability-and-had-to-take-an-early-withdrawal-from-my-401k-can-i/01/142365#M10905 acomegys30 2019-06-01T07:09:27Z When you take a distribution from a retirement plan prior... https://ttlc.intuit.com/community/retirement/discussion/when-you-take-a-distribution-from-a-retirement-plan-prior/01/142373#M10907 <P>When you take a <B>distribution</B> from a retirement plan prior to reaching age <B>59 1/2 </B>you are subject to an <B>early withdrawal penalty</B>.</P><P>There are a <B>number of exceptions</B> that allow taxpayers <B>relief from that penalty</B>.</P><P>Please see the <B>notes</B> associated with exception <B>#3</B></P><P> <B>#.&nbsp; – Exception Description</B> </P><P>01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qualified retirement plan distributions (does not apply to IRAs) you receive after separation from</P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; service when the separation from service occurs in or after the year you reach age 55 </P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (age 50 for qualified public safety employees).</P><P>02&nbsp;&nbsp;&nbsp; Distributions made as part of a series of substantially equal periodic payments (made at least</P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; annually) for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and</P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; your designated beneficiary (if from an employer plan, payments must begin after separation</P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; from service).</P><P>03&nbsp;&nbsp; Distributions due to total and permanent disability. </P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; You are considered disabled if you can <B>furnish proof that you cannot do any </B></P><P><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; substantial gainful activity</B> because of your physical or mental condition. A <B>medical determination</B></P><P> <B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; that your condition can be expected to result in death or to be of long, continued, and indefinite</B> </P><P><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; duration</B> must be made.</P><P>04&nbsp;&nbsp; Distributions due to death (does not apply to modified endowment contracts).</P><P>05&nbsp;&nbsp; Qualified retirement plan distributions up to the amount you paid for unreimbursed medical</P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; expenses during the year minus 10% (or 7.5% if you or your spouse were born before </P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; January 2, 1952) of your adjusted gross income (AGI) for the year.</P><P>06&nbsp;&nbsp; Qualified retirement plan distributions made to an alternate payee under a qualified domestic</P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; relations order (does not apply to IRAs).</P><P>07&nbsp;&nbsp; IRA distributions made to certain unemployed individuals for health insurance premiums.</P><P>08&nbsp;&nbsp; IRA distributions made for qualified higher education expenses.</P><P>09&nbsp;&nbsp; IRA distributions made for the purchase of a first home, up to $10,000.</P><P>10&nbsp;&nbsp; Qualified retirement plan distributions made due to an IRS levy.</P><P>11&nbsp;&nbsp; Qualified distributions to reservists while serving on active duty for at least 180 days. </P><P>12&nbsp;&nbsp; Other (see Other next). Also, enter this code if more than one exception applies</P><P>See the following link to Form 5329 for more details:</P><P> </P><P> <A href="https://www.irs.gov/pub/irs-pdf/i5329.pdf" rel="nofollow" target="_blank">Instructions for Form 5329</A> </P> Sat, 01 Jun 2019 07:09:29 GMT https://ttlc.intuit.com/community/retirement/discussion/when-you-take-a-distribution-from-a-retirement-plan-prior/01/142373#M10907 DexterS 2019-06-01T07:09:29Z
This XML file does not appear to have any style information associated with it. The document tree is shown below.
<rss xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:taxo="http://purl.org/rss/1.0/modules/taxonomy/" version="2.0">
<channel>
<title>
topic I have applied for social security disability and had to take an early withdrawal from my 401k can i take a permanent disability credit for 2015? in Retirement tax questions
</title>
<link>
https://ttlc.intuit.com/community/retirement/discussion/i-have-applied-for-social-security-disability-and-had-to-take-an-early-withdrawal-from-my-401k-can-i/01/142365#M10905
</link>
<description>
<P>I'm trying to finish my 2015 return.&nbsp; In 2015, I took a cash withdrawal after being separated/terminated from my employer.&nbsp; I didn't know there was such thing as&nbsp;"hardship" withdrawal at the time.&nbsp; I have applied for social security disability and am still waiting.&nbsp; I was 50 or 51years old at the time.&nbsp; can I&nbsp;get a permanently disabled credit?&nbsp; <BR /></P>
</description>
<pubDate>Sat, 01 Jun 2019 07:09:27 GMT</pubDate>
<dc:creator>acomegys30</dc:creator>
<dc:date>2019-06-01T07:09:27Z</dc:date>
<item>
<title>
I have applied for social security disability and had to take an early withdrawal from my 401k can i take a permanent disability credit for 2015?
</title>
<link>
https://ttlc.intuit.com/community/retirement/discussion/i-have-applied-for-social-security-disability-and-had-to-take-an-early-withdrawal-from-my-401k-can-i/01/142365#M10905
</link>
<description>
<P>I'm trying to finish my 2015 return.&nbsp; In 2015, I took a cash withdrawal after being separated/terminated from my employer.&nbsp; I didn't know there was such thing as&nbsp;"hardship" withdrawal at the time.&nbsp; I have applied for social security disability and am still waiting.&nbsp; I was 50 or 51years old at the time.&nbsp; can I&nbsp;get a permanently disabled credit?&nbsp; <BR /></P>
</description>
<pubDate>Sat, 01 Jun 2019 07:09:27 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/retirement/discussion/i-have-applied-for-social-security-disability-and-had-to-take-an-early-withdrawal-from-my-401k-can-i/01/142365#M10905
</guid>
<dc:creator>acomegys30</dc:creator>
<dc:date>2019-06-01T07:09:27Z</dc:date>
</item>
<item>
<title>
When you take a distribution from a retirement plan prior...
</title>
<link>
https://ttlc.intuit.com/community/retirement/discussion/when-you-take-a-distribution-from-a-retirement-plan-prior/01/142373#M10907
</link>
<description>
<P>When you take a <B>distribution</B> from a retirement plan prior to reaching age <B>59 1/2 </B>you are subject to an <B>early withdrawal penalty</B>.</P><P>There are a <B>number of exceptions</B> that allow taxpayers <B>relief from that penalty</B>.</P><P>Please see the <B>notes</B> associated with exception <B>#3</B></P><P> <B>#.&nbsp; – Exception Description</B> </P><P>01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qualified retirement plan distributions (does not apply to IRAs) you receive after separation from</P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; service when the separation from service occurs in or after the year you reach age 55 </P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (age 50 for qualified public safety employees).</P><P>02&nbsp;&nbsp;&nbsp; Distributions made as part of a series of substantially equal periodic payments (made at least</P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; annually) for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and</P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; your designated beneficiary (if from an employer plan, payments must begin after separation</P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; from service).</P><P>03&nbsp;&nbsp; Distributions due to total and permanent disability. </P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; You are considered disabled if you can <B>furnish proof that you cannot do any </B></P><P><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; substantial gainful activity</B> because of your physical or mental condition. A <B>medical determination</B></P><P> <B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; that your condition can be expected to result in death or to be of long, continued, and indefinite</B> </P><P><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; duration</B> must be made.</P><P>04&nbsp;&nbsp; Distributions due to death (does not apply to modified endowment contracts).</P><P>05&nbsp;&nbsp; Qualified retirement plan distributions up to the amount you paid for unreimbursed medical</P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; expenses during the year minus 10% (or 7.5% if you or your spouse were born before </P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; January 2, 1952) of your adjusted gross income (AGI) for the year.</P><P>06&nbsp;&nbsp; Qualified retirement plan distributions made to an alternate payee under a qualified domestic</P><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; relations order (does not apply to IRAs).</P><P>07&nbsp;&nbsp; IRA distributions made to certain unemployed individuals for health insurance premiums.</P><P>08&nbsp;&nbsp; IRA distributions made for qualified higher education expenses.</P><P>09&nbsp;&nbsp; IRA distributions made for the purchase of a first home, up to $10,000.</P><P>10&nbsp;&nbsp; Qualified retirement plan distributions made due to an IRS levy.</P><P>11&nbsp;&nbsp; Qualified distributions to reservists while serving on active duty for at least 180 days. </P><P>12&nbsp;&nbsp; Other (see Other next). Also, enter this code if more than one exception applies</P><P>See the following link to Form 5329 for more details:</P><P> </P><P> <A href="https://www.irs.gov/pub/irs-pdf/i5329.pdf" rel="nofollow" target="_blank">Instructions for Form 5329</A> </P>
</description>
<pubDate>Sat, 01 Jun 2019 07:09:29 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/retirement/discussion/when-you-take-a-distribution-from-a-retirement-plan-prior/01/142373#M10907
</guid>
<dc:creator>DexterS</dc:creator>
<dc:date>2019-06-01T07:09:29Z</dc:date>
</item>
</channel>
</rss>