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TuckerdogAVL
Level 4

At age 65, can I withdraw from SEP IRAs and Trad IRAs right after making the contributions on April 15th?

I'm 65 and made both SEP IRA and TRAD IRA contributions this year to existing accounts. They were set up two years ago; They both now say "LONG TERM" ... which technically they are. And I just made the new contributions prior to 4/15/19. Can I take out any amount I wish, knowing I'll be taxed as income, going forward? I could use some of the money that is just sitting in the money market right now that hasn't been allocated to any funds. I don't have a problem taking only what was contributed prior to 4/19, but I would have to find that info as the amounts are now combined. I don't want to touch the money that has been put into funds, just some of the money sitting in the Cash reserve 

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Anonymous
Not applicable

At age 65, can I withdraw from SEP IRAs and Trad IRAs right after making the contributions on April 15th?

yes.   and no IRS penalties.  amount withdrawn taxable in 2019. state rules differ

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1 Reply
Anonymous
Not applicable

At age 65, can I withdraw from SEP IRAs and Trad IRAs right after making the contributions on April 15th?

yes.   and no IRS penalties.  amount withdrawn taxable in 2019. state rules differ

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