I rolled my 401k into an IRA in 2019. If I contribute to the IRA for last years contributions, will I be able to withdraw monies next year without penalty. I will be 65 in a couple of months.
Assuming you mean a Traditional IRA then since you are over age 59 1/2 there is no penalty on any distributions. You would still be subject to the normal tax on distributions.
If you are referring to an early distribution penalty, the answer would be No.
Since you are older than age 59.5, you will be not subject to 10% from early distribution penalty. However, you will still be taxed at your normal tax bracket as part of your taxable income.
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