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IRA early withdrawal penalties

Level 1

Husband had large medical expenses in 2019 and with took an early distribution from her IRA to pay the bill.  Is she subject to the premature withdrawal penalty because the medical expenses were not for her or is she able to avoid the penalty because she is filing a joint return and the return has medical expenses shown on the return that covers most of the withdrawal amount

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Level 11
Level 11

@TAXQUEEN wrote:

Husband had large medical expenses in 2019 and with took an early distribution from her IRA to pay the bill.  Is she subject to the premature withdrawal penalty because the medical expenses were not for her or is she able to avoid the penalty because she is filing a joint return and the return has medical expenses shown on the return that covers most of the withdrawal amount


https://www.irs.gov/pub/irs-tege/early_distributions.pdf

Read up re: medical expenses but yes, she is filing joint so that extends to medical expenses for spouse or dependents. 

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Level 11
Level 11

@TAXQUEEN wrote:

Husband had large medical expenses in 2019 and with took an early distribution from her IRA to pay the bill.  Is she subject to the premature withdrawal penalty because the medical expenses were not for her or is she able to avoid the penalty because she is filing a joint return and the return has medical expenses shown on the return that covers most of the withdrawal amount


https://www.irs.gov/pub/irs-tege/early_distributions.pdf

Read up re: medical expenses but yes, she is filing joint so that extends to medical expenses for spouse or dependents. 

View solution in original post