Tag Archive: ira withdrawal

Take a penalty-free IRA withdrawal for medical expenses

Written by February 10, 2014

Are you considering withdrawing funds from your traditional IRA to pay unexpected medical costs? You may be hesitating because of the 10% penalty imposed on withdrawals made when you’re under age 59½. Since the 10% is calculated on the total you withdraw, the tax hit could be substantial. Worse, the penalty typically is not withheld from the cash you receive,...