There are several ways you can “bust” a 72(t) distribution, and the consequences can have a severe impact on your taxes if the account is not managed properly.
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72(t) Related Articles
With a 72(t) distribution, the IRS is only concerned with the account sending the payments, and your employment status and other income is irrelevant.
72t is the Internal Revenue Code Section that covers withdrawals from retirement accounts -401k’s, 403(b)’s including Qualified Annuities, Pensions, Individual Retirement Accounts (IRA’s), or any other tax deferred retirement savings vehicles.
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