Cashing in IRA before retirement age

or Register to post new content in the forum

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Dec 7, 2015 12:57 pm

So say client has retirement account of $500,000 and is 40 years old.

Has a regular (non Roth) IRA.

Wants to cash it in today.

No income/employment currently, and out of work for 2 years. 

Doesn't care about the 10% early withdrawal penalty. 

What would be the taxes?

Thank you very much.