I am 61 and on my last year of my 72T. I am told that since I’m over 59.5, I can also take more. Is that true or will I be penalized for taking out more than the 72T?

If you have been making the substantially equal periodic payments under rule 72T for the minimum of 5 years and you are 59 1/2 years old, you will not be subject to the 10% penalty for any amount you disburse out of your IRA.

A roundabout way of saying, "Don't violate your 72T rules in the last year !!"