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Returning Member

Traditional IRA withdrawals how to minimize taxes

 
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Employee Tax Expert

Traditional IRA withdrawals how to minimize taxes

If you withdraw from your Traditional IRS prior to age 59 1/2 you generally receive a 10% early withdrawal penalty.  There are exceptions to this penalty.  I am assuming you are under age 59 1/2 and is the reason for your question.

 

Some of the exceptions to the penalty include:

  • Total and permanent disability
  • Qualified education expenses
  • Qualified First Time Home buyers

To see the full list of exemptions, click here.

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