topic With the president signing H.R. 3823-19, is a Harvey victim subject to the 10% retirement withdrawal penalty to offset loss? in Retirement tax questions

With the president signing H.R. 3823-19, is a Harvey victim subject to the 10% retirement withdrawal penalty to offset loss?

pompanobl — Thu, 06 Jun 2019 15:57:37 GMT

Does H.R. 3823-19 allow taxpayers to be exept from 10% penalty when withdrawing from retirement if affected by hurricane harvey? And if so, does turbo tax recognize this in their calculations of taxes due?

As a Harvey hurricane victim, you are exempted from the e...

MinhT — Thu, 06 Jun 2019 15:57:38 GMT

As a Harvey hurricane victim, you are exempted from the early withdrawal penalty when withdrawing from your retirement plan.

Please read this TurboTax article for more information:

https://blog.turbotax.intuit.com/tax-news/hurricane-victims-get-additional-relief-with-the-disaster-...

I read the Legislation the President signed. It said the...

pompanobl — Thu, 06 Jun 2019 15:57:39 GMT

I read the Legislation the President signed. It said the amount is capped at 100,000. I wonder if this means any amount over is given the penalty tax or all the amount if over 100,000? Anyone know?

Turbotax is not ready. It does not let me enter with 10%...

vip-evo — Thu, 06 Jun 2019 15:57:41 GMT

Turbotax is not ready. It does not let me enter with 10% tax it is calculating much more than 10%.