DinkinFlicka
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Man, pick up lines have gotten weird.@marcusluvsvols- You arent 55 yet are you?
Was Charlotte declared a disaster area from Helene? You might be able to get out of 10% of the 30%....
Edit- Nevermind. Has to be taken within 180 days of declaration.
Well, I should have looked it up. Turns out “Sodom on the Catawba” was so designated, largely due to the aforesaid river (Catawba) flooding.
Silly, silly. Living nearby, I can affirm that a disaster declaration had to be political; Mecklenburg Co. didn’t suffer nearly as much as the mountain counties.
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@marcusluvsvols- You arent 55 yet are you?
Man, pick up lines have gotten weird.
@marcusluvsvols - Charlotte received major disaster declaration for Chantal (July). If you can weave together a ressonable story about how this might have impacted your prior employer (Cant work when its raining for days) and pushed them over the edge, you might be able to avoid the 10% penalty and spread the rest of the impact over 3 years.
To be blunt, this is a smidge aggressive. The timing sets up though since it was two weeks after the storm. You even made a comment on 7/21 about all the rain when you got laid off.
Talk with whoever does your taxes and knows your situation. This might be a smidge aggressive but you might have an argument here.
Either way, you wouldn't be avoiding taxes. You are spreading it out over 3 years. You would be avoiding the 10% penalty. You would need to file Form 8915-F.
Disaster relief frequently asked questions: Retirement plans and IRAs under the SECURE 2.0 Act of 2022 | Internal Revenue Service
FS-2024-19, May 2024 — This fact sheet issues frequently asked questions about SECURE 2.0 Act of 2022 (SECURE 2.0) that provides for special rules for distributions from retirement plans and individual retirement arrangements (IRAs) and for retirement plan loans, for certain individuals impacted...www.irs.gov
