JennyRake1
Level 1
03-09-2022
02:36 PM
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I have a client who withdrew $150,000 from his 401k to buy his primary residence. He is not a first-time home buyer but he is a publice service employee who turned 51 in 2021. Is he subject to the early withdrawal penalty? From my understanding, he would be exempt if he had retired or been separated from service.