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When are you 59.5 year old for penalty free withdrawal?


Pacun

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Tax payer will be 59 and a half years old on October 30, 2023.  He withdrew $100K from his current employer 401k plan on January 2nd 2023. Will he have to pay $10K penalty on that withdrawal?  He used that money for vacations. I think I have read that you have the whole calendar year when you are becoming 59.5 years old to withdraw without penalty but it doesn't sound right. 

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