Jonathan N. asked

💰  Tax

I am disabled and receive Social Security disability. My wife is also disabled and receives Social Security disability. I am 58 years old and my wife is 53. I want to access my IRA but I don't want to pay the penalty for early distribution. I was told that being disabled allows me to access it without penalty. Is this true?

April 22nd, 2024

Shannon M. answered

Yes, you are exempt from the 10% early withdrawal penalty if you are totally and permanently disable...

April 22nd, 2024

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