If you withdraw from your Traditional IRS prior to age 59 1/2 you generally receive a 10% early withdrawal penalty. There are exceptions to this penalty. I am assuming you are under age 59 1/2 and is the reason for your question.
Some of the exceptions to the penalty include:
- Total and permanent disability
- Qualified education expenses
- Qualified First Time Home buyers
To see the full list of exemptions, click here.
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