Will a Distribution from Your Traditional IRA be Penalty Free?

Any distribution from a pre-tax account is most likely going to be subject to income taxes, they do not always have to be subject to a penalty as well. The easiest way to avoid a penalty is to wait until age 59.5 to withdraw any of the funds in your Traditional IRA, but there are other scenarios that you may be able to access the funds and not incur a penalty.

This flowchart can help guide you through those other scenarios.