What is the name of your state?Massachusetts
Hello and thank you in advance for any help anyone can give me in the below matter.
Basically, during 2004 I have withdrawn $74,488.00 from my 401k plan that was rolled over, Jan 04, due to my current unemployment status, dating back to July of 2003, and I want to know if I have to pay the %10 penalty on top of the federal and state taxes.
I am asking becuase I am still unemployed and do not have any income, including unemployment, to report for 2004 other than the early distribution. I also feel that my physical condition, I am a 41 year old below knee amputee, and a shoulder and limb surgeries during 2004 would someway alleviate me from paying the penalty.
Please advise.
Hello and thank you in advance for any help anyone can give me in the below matter.
Basically, during 2004 I have withdrawn $74,488.00 from my 401k plan that was rolled over, Jan 04, due to my current unemployment status, dating back to July of 2003, and I want to know if I have to pay the %10 penalty on top of the federal and state taxes.
I am asking becuase I am still unemployed and do not have any income, including unemployment, to report for 2004 other than the early distribution. I also feel that my physical condition, I am a 41 year old below knee amputee, and a shoulder and limb surgeries during 2004 would someway alleviate me from paying the penalty.
Please advise.