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Yes, if you are under age 59 1/2 and withdraw money from your IRA, you will be subject to the 10% early withdrawal penalty even though you are using the money to pay your taxes.
One exception to this is if the distribution is due to an IRS Levy on the IRA account.
You can check out this TurboTax FAQ to review available Exceptions to the Early Distribution Penalty for IRAs.
Yes, if you are under age 59 1/2 and withdraw money from your IRA, you will be subject to the 10% early withdrawal penalty even though you are using the money to pay your taxes.
One exception to this is if the distribution is due to an IRS Levy on the IRA account.
You can check out this TurboTax FAQ to review available Exceptions to the Early Distribution Penalty for IRAs.
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