5 Types Of IRA Withdrawals

1. IRA Early Withdrawals – Before Age 59 ½ - Taxes, Penalties, and Exceptions

An early IRA withdrawal is a withdrawal taken before you reach age 59 ½, which is subject to a 10% penalty tax in addition to ordinary income taxes. Here are the circumstances under which you may qualify for an exception to the 10% penalty tax on an early IRA withdrawal.

3. IRA Withdrawals - Required Minimum Distributions (at age 70 1/2)

When you reach the age of 70 ½ the IRS requires that you start taking distributions from your qualified retirement accounts (IRA accounts, 401ks, 457 plans or other tax-deferred retirement savings plans like a TSA, SEP or SIMPLE). You are NOT required to take minimum distributions from a ROTH IRA. Here you'll find the details on when the first withdrawal must be taken, and how to calculate how much to take.

4. A ROTH IRA Withdrawal - When It's Tax Free, and When It's Not

There's a mass of messy information out there about ROTH IRA withdrawals. I read through several leading articles, and the IRS website, and found little information the average person could decipher. So here's the simple scoop about ROTH IRA distributions.

5. 8 IRA Rollover Frequently Asked Questions

When you rollover a qualified retirement account (like a pension plan lump sum, 401k, or 403b) to an IRA, or transfer funds or investments from one IRA to another, if done correctly, it is not considered an IRA withdrawal. Since there is no distribution of funds to you, the transfer is tax-free.