What is the tax rate for early ira withdrawal?

If the money is deposited in a traditional IRA, SEP IRA, Simple IRA or SARSEP IRA, you will owe taxes at your current tax rate on the amount you take out. For example, if you are in the 15% tax bracket, your withdrawal will be taxed at 15%. read more

How to Reduce Penalty on Early IRA Withdrawal Whenever you take money from a traditional IRA, you have to pay taxes at your ordinary, or marginal, income tax rate. If you withdraw money from your traditional IRA before you reach age 59 1/2, you must pay an additional 10 percent penalty on the amount. read more

Generally, early withdrawal from an Individual Retirement Account (IRA) prior to age 59½ is subject to being included in gross income plus a 10 percent additional tax penalty. There are exceptions to the 10 percent penalty, such as using IRA funds to pay your medical insurance premium after a job loss. read more