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Retirement tax questions
What rule are you referring to?
You can take money out of your IRA anytime you want and use it for any purpose including paying for financial advice. It will be taxable the same way as any other distribution. There is no regulation that treats fees for investment advice any different than any other IRA distribution, it simply does not exist. IRS Pub 590B tells you how IRA distribution are treated.
You can take money out of your IRA anytime you want and use it for any purpose including paying for financial advice. It will be taxable the same way as any other distribution. There is no regulation that treats fees for investment advice any different than any other IRA distribution, it simply does not exist. IRS Pub 590B tells you how IRA distribution are treated.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎June 3, 2019
1:05 PM