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Retirement tax questions
There is no restriction on when you are permitted to take a distribution from an IRA. As Bsch4477 indicated, what you need to be concerned about is what your income tax liability for the distribution will be.
If the distribution is from a traditional IRA and you have no basis in nondeductible traditional IRA contributions, the entire $10,000 will be taxable income that adds to your AGI on Form 1040.
‎September 29, 2024
11:02 AM