Contact UsWhat type of taxes are there on early retirement distributions?
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Tax Professional Answers
John Stancil
If you withdraw funds from your IRA prior to age 59 1/2 unless you are age 55 or more and have separated from service, you will owe federal income taxes at ordinary rates. Some states also subject IRA's to taxation. In addition, you will owe a federal penalty of 10% of the amount withdrawn.
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443 weeks ago