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72t and medical bills

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Last Updated On
Bycac

L1: 72t and medical billsSince last May have taken substantially equal payments from a 401k. Can I also now withdraw medical expenses that exceed 7.5% of my AGI without triggering the 10% penalty? Does this medical expense exception only apply to IRAs? 2002-02-17 18:37, By: cac, IP: [127.0.0.1]
L2: RE: 72t and medical billsTaking any amount from the same account as the account used for the SEPP plan would probably result in a busted plan.The only exception that I know that apply are death and disability.2002-02-25 13:34, By: Gfw, IP: [127.0.0.1]

L2: RE: 72t and medical billsWe are again in an unknown area: taking SEPPs and another distribution from the same IRA for a different exception reason. There are theories & concepts that swing both ways as to its permissability.I would suggest avoiding the situation; or, if the medical bills are really substantial, file for a PLR to get the issue resolved for yourself.TheBadger2002-03-02 09:45, By: TheBadger, IP: [127.0.0.1]

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