*Confer with your trusted tax preparation specialist about specific deduction, penalty and income tax filing requirements.
You may withdraw money from your traditional IRA at any time and the taxable portion of that withdrawal will be taxed as ordinary income. Distributions you receive before you reach age 59 ½ will result in a credit union interest penalty and may be subject to an IRS penalty. However, the IRS penalty does not apply to distributions that are:
These conditions are general and each situation is unique. We strongly recommend that you consult with a tax specialist prior to making a withdrawal.
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