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    can loss from a early withdrawn a ira account be claim on taxes

    can a loss a early withdrawn from a ira account be claim on income taxes

    0  Views: 1838 Answers: 1 Posted: 13 years ago

    1 Answer

    If you take an early withdrawal of  funds from your IRA, you will pay a penalty for doing so.  The amount you draw goes on line 15 of the form 1040.  The penalty amount goes on line 58.  The penalty is 10% of  the amount you pulled.  For example, if you withdrew $7500, your penalty would be $750.
    YES, THE FEDERAL GOVENRNMENT IS A DEN OF THIEVES.  I am studying to  be a tax preparer and every day I learn something new that distresses, depressess, and disturbs me about the IRS.  Horrible. 



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