401k early withdrawal penalty for 2021 taxes - Impacted by COVID

LindaBob · ‎February 23, 2022

Hello,

I was impacted by COVID so in 2021, I took out money from my 401k and I am not 59 1/2 years old.

Is the 10% being waived for 2021 Federal Taxes if you were impacted by COVID?

Thanks,

MinhT1 · ‎February 23, 2022

No. The favorable tax treatment in the CARES Act only applies to the Coronavirus-related distributions from January 1 to December 31, 2020.

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MinhT1 · ‎February 23, 2022

No. The favorable tax treatment in the CARES Act only applies to the Coronavirus-related distributions from January 1 to December 31, 2020.

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Do you have an Intuit account?