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epc44
January 25, 2020
Question

Traditional IRA withdrawals how to minimize taxes

  • January 25, 2020
  • 1 reply
  • 0 views
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1 reply

CatinaT1
CatinaT1
January 27, 2020

If you withdraw from your Traditional IRS prior to age 59 1/2 you generally receive a 10% early withdrawal penalty.  There are exceptions to this penalty.  I am assuming you are under age 59 1/2 and is the reason for your question.

 

Some of the exceptions to the penalty include:

  • Total and permanent disability
  • Qualified education expenses
  • Qualified First Time Home buyers

To see the full list of exemptions, click here.

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