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Retirement tax questions
Yes Taxable. There are some exceptions like if you buy a home using your IRA you can avoid the 10% Early Withdrawal Penalty if you are under 59 1/2 but that doesn't apply to you since you are older. When you turn 70 1/2 you can make a direct distribution to a charity from an IRA and avoid the tax.
See IRS Publication 590B on Distributions
‎September 11, 2023
12:15 PM
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