nostr:npub13cnlldwfhwxd6qf34hnwlfya2m2qrd2zfk0alxnrup6d2fasw9wqxwkzpe I’m coming in on the end of this conversation so it’s possible I’m missing something. Here’s the rules on w/d from retirement accounts (traditional Ira and Roth)

Traditional IRA’s- the amount of distribution will be taxed at normal tax rates and a 10% penalty will apply unless you meet an exception-

Age over 59.5

Distributions that don’t exceed medical expenses for year

(There are other exemptions)

Roth IRA- if it’s been in existence at least 5 years, then you get to treat the money that is distributed as money you contributed (no tax cost) until all contributions are w/d. Then the excess is taxed as ordinary income and there is no penalty. (Ex. Contributions of 25k over 10 year period, now balance is 35k. W/d 25k with no tax consequences…w/d 30k and owe income tax (ordinary rates) on 5k of earnings.

Giving advice without all the facts can be a dangerous game. DM me with specifics if you want and I’ll address any concerns you have.