taxes on IRA distributions

Queen of Sanity — Tue, 24 Feb 2026 07:02:53 GMT

This is the first year I took early distributions from my IRA. How much will I be expected to pay in taxes and penalties in 2023 when I file income tax return?

I am currently unemployed. my passive income is 1099-MISC for a rental property.

Re: taxes on IRA distributions

CLBHESQLLM — Wed, 30 Aug 2023 20:43:32 GMT

Hi @Queen of Sanity, taxation and penalties will depend on the type of IRA you have and whether or not you have an applicable hardship reason for taking the early withdrawal. Please find important information about early withdrawals and hardship exceptions on the IRS' website here: https://www.irs.gov/newsroom/what-if-i-withdraw-money-from-my-ira#:~:text=Generally%2C%20early%20withdrawal%20from%20an,premium%20after%20a%20job%20loss.

topic taxes on IRA distributions in Self employed

taxes on IRA distributions

Re: taxes on IRA distributions