Tuesday, April 21, 2015

Exceptions to IRA Penalty Tax

Generally, premature IRA distribution is subject to a 10% penalty tax, EXCEPT if:

  • Home Buyer 1st time $10K max 
  • Insurance Medical
  • Medical expenses > 10% of AGI (OR 7.5% if 65 years old+)
  • Disability
  • Education
  • And
  • Death
HIM DEAD

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