Withdrawing IRA Funds at age 59.5
WHEN WITHDRAWING IRA FUNDS IN THE TAXABLE YEAR THAT ONE REACHES AGE 59.5, DOES ONE HAVE THE CHOICE TO WITHDRAW THE FUNDS ANYTIME DURING THAT PARTICULAR TAXABLE YEAR WITHOUT TAX PENALTIES ? OR DOES ONE HAVE TO WAIT UNTIL EXACTLY 59.5 OR LATER TO WITHDRAW FUNDS WITHOUT TAX PENALTIES?
Permalink Submitted by Bernie Babtkis on Tue, 2011-12-27 22:54
THANK YOU TOM D. VERY MUCH APPRECIATED.
Permalink Submitted by Stephen Madeyski on Mon, 2014-03-10 20:06
This is the same question that I need an answer to, but I am not seeing the answer in the thread. Do you mind reposting the answer.Thank you.
Permalink Submitted by Alan - IRA critic on Mon, 2014-03-10 20:16
The distribution must come on the date IRA owner reaches 59.5 or later to avoid the penalty. 59.5 occurs exactly 6 months later than the 59th birthday,
Permalink Submitted by Stephen Madeyski on Mon, 2014-03-10 20:17
Thank you very much.S