JOHNNYCPA
Level 3
03-07-2025
04:51 AM
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in preparing 5329 exceptions. I have client that withdrew $25,000 from 401k ( under 59.5 years) . about $5,000 was used for emergency repair on his vehicle. Can I use up to $1,000 for emegency exception so that only $24,000 is hit with 10% penalty/
Thanks,
John
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