topic I removed funds from my IRA due to Major disaster on my land not primary residence. There was an obligation to apply funds to the association for disaster repairs in Deductions & credits

I removed funds from my IRA due to Major disaster on my land not primary residence. There was an obligation to apply funds to the association for disaster repairs

warby — Tue, 10 Feb 2026 09:41:19 GMT

Is it a non-taxable removal?

Re: I removed funds from my IRA due to Major disaster on my land not primary residence. There was an obligation to apply funds to the association for disaster repairs

DoninGA — Tue, 23 Jan 2024 01:50:13 GMT

The distribution from the IRA is taxable income on your tax return. There is no such thing as a non-taxable distribution from a tax deferred retirement account.

Re: I removed funds from my IRA due to Major disaster on my land not primary residence. There was an obligation to apply funds to the association for disaster repairs

Opus 17 — Tue, 23 Jan 2024 02:02:07 GMT

Up to $22,000 of the distribution can be exempt from the 10% penalty for early withdrawal (if you are under age 59-1/2) if you sustain an economic loss by reason of a federally declared disaster where you live.

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-on-early-distributions

However, as stated, IRA withdrawals are always subject to regular income tax. Its just the early withdrawal penalty that can sometimes be exempted.