qbteachmt
Level 15
03-24-2022
01:02 PM
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"To my understanding, he can only write off if it is an IRA."
I think you need to read the rules for 401(k) vs IRA, and the differences between being allowed to make a hardship withdrawal and the penalty exemption. Because this is never a "write off if it is an IRA" and it sure isn't for this client.
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Don't yell at us; we're volunteers