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  1. #5
    Join Date
    Apr 2007
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    Charlotte, NC
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    A 401(k) withdrawal sufficient to cover both the 401(k) and IRA doesn't meet the requirements. But it would be a powerful argument to submit in requesting a waiver of the additional tax. (Although it's my understanding that these waivers are generally granted freely anyhow if the conditions are met). But I'd be sure to take the missed withdrawal from the IRA along with the regular IRA withdrawal in the current year, because everyone always says that's the key to getting the waiver approved anyhow. They are looking for you to substantiate "reasonable error" and "reasonable steps to remedy the shortfall."
    Last edited by JohnH; 06-18-2018 at 04:12 PM.
    "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

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