If you make a withdrawal from an IRA account before age 57 1/2,you generally owe a 20% penalty on that amount.

Name: If you make a withdrawal from an IRA account before age 57 1/2,you generally owe a 20% penalty on that amount.
Brand: Quizplus
Rating: 4.8 (51 reviews)

Question

Quizplus · Accepted Answer

If you make a withdrawal from an IRA account before age 59 1/2, you generally owe a 10% penalty on that amount in addition to taxes. However, there are some exceptions and certain circumstances where the penalty may be waived.

If You Make a Withdrawal from an IRA Account Before