If you take withdrawals from your traditional IRA, you probably know they’re taxable. But there may be an additional penalty tax on “early” withdrawals. An early distribution is defined as taken before age 59½. You’ll be hit with a 10% penalty tax unless an exception applies. Fortunately, there are several exceptions. Common examples include: 1) […]
You are here: Home › Early Distributions
Tag Archives | Early Distributions
If you’re like many people, you’ve worked hard to accumulate a large nest egg in your traditional IRA (including a SEP-IRA). It’s even more critical to carefully plan for withdrawals from these retirement-savings vehicles.