Solved
Can I withdrawal from my IRA if I’m pregnant and be tax free?
I was reading that you can pull up to 5000 and not be penalized for a birth. Could I do it before hand to help cover medical cost now?
@gillen-amber you are permitted to withdraw up to $5,000 within one year AFTER the birth of your child. HOWEVER, you are still liable for the income tax on the distribution, but the 10% penalty that normally accompanies a withdrawal is waived.
You can not avoid the 10% penalty if you withdraw the funds prior to the birth of the child.
There is no way to avoid the income tax itself.
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