Series 24: 3.10.1.2. Withdrawing From A Traditional IRA

Taken from our Series 24 Online Guide

3.10.1.2. Withdrawing from a Traditional IRA

The IRS requires individuals to begin taking funds from their traditional IRAs by April 1 after the year they turn 72. Withdrawals can be taken as a lump sum or as periodic payments. Most individuals will make pre-tax contributions to their traditional IRA. Any after-tax contributions can be withdrawn tax-free, but individuals must show evidence that taxes were paid on these contributions. While individuals can withdraw funds at any time from their account, if they make withdrawals before the age of 59 1/2, they will be taxed on both their pre-tax contributions and their earnings and face an

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I passed my Series 24 today with an 80% thanks to Solomon Test Prep! I found the most benefit from using the practice exams as a learning tool, reading each answer explanation as I went along, regardless of a(n) correct/incorrect response. I found that for this exam, understanding the concepts is equally as important as memorization! Good luck!

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