IRA and pre 59.5 penalty question
If I have a client who will be 59.5 in May of 2015 when can we start pulling money out of IRA’s without getting hit with IRS 10% penalty? IS it anytime in the year that he turns 59.5?
If I have a client who will be 59.5 in May of 2015 when can we start pulling money out of IRA’s without getting hit with IRS 10% penalty? IS it anytime in the year that he turns 59.5?
Permalink Submitted by Alan - IRA critic on Thu, 2014-10-30 22:37
No. It is exactly the date that is 6 months after client’s 59th birthday.