72t Penalty
February 20th, 2007
Question: Early Ira Withdrawal has a federal 10% penalty that can be avoided by a 72t Plan. How about 2.5% CA penalty?
Answer: California and federal taxes on early distributions are the same except for the rates of tax assessed.
If your 1099R shows Code 2 in Box 7 (early distribution, exception applies), then no penalty is assessed and you do not need to use Form 3805.
Juve Stabia – Noicattaro 4- 0 ventiseiesima giornata di campionato Lega Pro 2009/2010
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