CLBHESQLLM
Expert Alumni

Self employed

Hi @Queen of Sanity, taxation and penalties will depend on the type of IRA you have and whether or not you have an applicable hardship reason for taking the early withdrawal.  Please find important information about early withdrawals and hardship exceptions on the IRS' website here: https://www.irs.gov/newsroom/what-if-i-withdraw-money-from-my-ira#:~:text=Generally%2C%20early%20wit....