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Updated over 4 years ago on . Most recent reply

Kip Cline's profile image
Kip Cline's profile image
Kip Cline
  • Rental Property Investor
  • from Sault Sainte Marie, MI
  • Member since Sep 1, 2015
  • Posts 25
  • Votes 4
  • Experience 10 Yrs
  • Investments 3
Connect

User Stats

25
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Kip Cline's profile image
Kip Cline's profile image
Kip Cline
  • Rental Property Investor
  • from Sault Sainte Marie, MI
  • Member since Sep 1, 2015
  • Posts 25
  • Votes 4
  • Experience 10 Yrs
  • Investments 3
Connect
Kip Cline
  • Rental Property Investor
  • Sault Sainte Marie, MI
4
Votes |
25
Posts
Coronavirus Government Assistance Programs

Covid 10% early retirement withdrawal penalty completely waived?

Kip Cline
  • Rental Property Investor
  • Sault Sainte Marie, MI
Posted

Is the 10% penalty waived only if the IRA is repaid within 3 years? I don't intend to repay the account and will use the money for real estate. I know I will have to pay income tax on what is withdrawn, but will I have to pay the 10% penalty as well or is it completely waived?

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