Two Days In A Librarianâs Life www.voicesforthelibrary.org.uk Librarians have varied and interesting jobs! This librarian works 15 hours per week in a Local Studies post, and has shared with us the enquiries they researched and responded to, with the help of one assistant, in just two days last week...
With a few exceptions, early withdrawals from traditional or Roth IRAs generally incur a tax penalty equal to 10% of the taxable amount. To calculate the penalty on an early withdrawal, simply multiply the taxable distribution amount by 10%. An early distribution of $10,000, for example, would incur a $1,000 tax penalty.
Early distribution penalty. Subject to various exceptions, if you take a withdrawal from a traditional IRA before you reach age 59Â½, any part of the distribution that is taxable is also subject to a 10% penalty. Instead of taking money directly from a traditional IRA, use a conversion to move it to a Roth IRA.