Marie Posted May 12, 2021 Report Share Posted May 12, 2021 Client took more than $100,000. Using a third for each year and 8615E, but 10% penalty is not showing up this year. When does client pay that? Quote Link to comment Share on other sites More sharing options...
Lee B Posted May 13, 2021 Report Share Posted May 13, 2021 Quote Have you limited the covid distribution to $100,000 ? Quote Link to comment Share on other sites More sharing options...
Pacun Posted May 13, 2021 Report Share Posted May 13, 2021 Your client will have to pay 10% penalty on the amount above $100K, unless he is 59.5 years old, 55 and separated from service, 50 if he was a public safety employee.... etc. 1 Quote Link to comment Share on other sites More sharing options...
Marie Posted May 14, 2021 Author Report Share Posted May 14, 2021 ok, thanks Quote Link to comment Share on other sites More sharing options...
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