ANSWERS: 1
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Individuals may take distributions from an IRA at any time. However, individuals who have not reached age 59 1/2 will be taxed on the distribution and will incur a 10 percent penalty unless the withdrawal is made for a special purpose, such as a first time home purchase, higher education, or medical expenses.
Source:
IRS.gov: Tax on Early Distributions
IRS.gov: Retirement Plans FAQS
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