Hi! I know this is a bit off topic, but I have a question re: Traditional IRA Distributions before retirement age. I'm under 59 1/2 years old & I live in New York. I know that Traditional IRA distributions are taxable on the Federal level along with a penalty for being under retirement age. However, on the State level, specifically New York State, is there tax and a penalty due when you file? I found out that up to $20,000 of retirement income is tax free in New York, but does that apply when you take a distribution before retirement age? Feedback is appreciated! Thanks!
