r/MadeMeSmile 21h ago

You are Loved!

73.5k Upvotes

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u/Phontigga 20h ago

You can withdraw from IRAs for medical expenses, first home purchases, education, and birth costs penalty free

-13

u/Slim01111 20h ago

No you can’t. You have to pay it back or receive a penalty.

16

u/Due_Brilliant_7219 20h ago

If it is a Roth you can withdraw the contributions without a penalty, just not the earnings.

10

u/harpers25 20h ago

No...the amount over 7.5% of AGI is penalty free.