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I used money from my 401(k) to pay COBRA insurance premiums. Do I have to pay early withdrawal penalties?

There’s no direct penalty exception for paying COBRA insurance out of a 401(k). However, there’s an exception for any amount withdrawn you used to pay medical expenses over:

  • 10% of your AGI
  • 7.5% of your AGI -- if you or your spouse were 65 at the end of the year

This amount will be exempt from the early withdrawal penalty.

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