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#1
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TSA cash outif I remove $15,000.00 from a TSA account before I am eligable, what are the penalties for me in wisconsin? |
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#2
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| I believe it's essentially the same as an IRA - Unless the withdrawal is made after 59 1/2 years of age or on account of your death, disability, or medical expenses meeting certain conditions, a 10% penalty tax will be due on the amount withdrawn, plus taxed as normal income. Your plan administrator or documentation should be able to verify this or add detail. wtd |
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#3
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| wtd is correct. Early distributions from a TSA are subject to the same 10% penalty as in the case of IRAs. |
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