How can I withdraw from IRA with least penalties?
I am currently unemployed and need to pull from my IRA to cover general expenses and medical insurance premiums. I have both Roth and Traditional IRAs. I read the IRS rules regarding penalties for early withdrawal and the exceptions to these penalties. My questions are: 1) would I qualify for an exception for part or all of my withdrawal; 2) if yes, does it matter which IRA I pull from; 3) if no, what type of withdrawal is going to be least penalized; and 4) I saw something about distributions from the IRA over time instead of one lump sum - does this make a difference?
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