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Source: IRS.gov Retirement Plans FAQs regarding Required Minimum Distributions | Internal Revenue Service (irs.gov)
There are distribution rules that are very important regarding IRAs:
10% Penalty: IRA withdrawals or distributions which are taken before the age of 59 ½ years old are considered an early withdrawal and subject to a 10% penalty of the total distribution on top of the ordinary income taxes that will be owed.
Exceptions: There are exceptions to the 10% Penalty on an early withdrawal, the IRS has an approved list of exemptions which include: first-time home purchases, disability or military service.
There are special exceptions to a withdrawal in the following situations:
Please see the IRS.gov website to learn more and consult with your CPA or Tax Advisor: Roth IRAs | Internal Revenue Service (irs.gov)