If You Make a Withdrawal from an IRA Account Before

question 111

True/False

If you make a withdrawal from an IRA account before age 57 1/2,you generally owe a 20% penalty on that amount.

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Definitions:

Scope

The extent or range of application, operation, or effectiveness of something, such as a law, policy, or concept.

Symbolize

To represent something abstract or intangible using a specific sign, mark, object, or action that conveys a particular idea or quality.

Powerful

Possessing great power, influence, or effect; capable of exerting force, authority, or having a strong impact on outcomes.

Fuel Efficient

Referring to technology or methods that use fuel in a way that maximizes energy output while minimizing waste, often associated with vehicles.