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Are there any DC income tax consequences for early withdrawals?

April 26, 2017consequences dc early withdrawals

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Are there any DC income tax consequences for early withdrawals?

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Any DC tax deduction taken shall be subject to recapture with respect to a withdrawal or rollover taken within two years of the establishment of the account for any reasons other than the payment of qualified higher education expenses; withdrawals due to death or disability of, or scholarship to, a designated beneficiary (except that only the amount of the scholarship is exempt from recapture); or the funds are transferred to another Account under the Plan.