sarki520
New Member

My Wife and I are currently unemployed can i get a distribution from an Traditional IRA without penalty? We borrowed 42K to pay for our home mortgage, health coverage.

We borrowed 42K from a traditional IRA to help pay for our home mortgage, health care coverage as well as day to day expenses. Unemployment lasted only 4 months but I was unemployed for 2 of the months in 2015. Is it fair to get get penalized for paying for your home and health coverage with your 401K money that you earned.