Skip to content
Log In
  • There are no suggestions because the search field is empty.

Will I be penalized for taking a distribution from my IRA?

Distributions taken from your IRA on or after reaching age 59½ are generally not subject to the IRS 10% early withdrawal penalty.

Distributions taken before age 59½ from pre-tax retirement accounts may be subject to a 10% early withdrawal penalty in addition to applicable taxes, unless an IRS exception applies.

For additional information regarding penalty exceptions, please refer to IRS Publication 598 and consult a qualified tax professional regarding your specific situation.