Early withdrawal penalty
I have a client taking RMD’s from an inherited IRA.She now wants to take a $100,000 lump sum distribution. This will be subject to tax as ordinary income but not to any penalties.Is this correct?
I have a client taking RMD’s from an inherited IRA.She now wants to take a $100,000 lump sum distribution. This will be subject to tax as ordinary income but not to any penalties.Is this correct?
Permalink Submitted by Denise Appleby on Fri, 2007-09-14 17:25
Yes. Your statement is correct.