IRA Distribution

[brandon94]

I am going to be filing later this week and will need at least $500 to pay some bills next week. I am planning to take the money out of my IRA but not sure of the best timing. Should I take it out today or wait until after I file later in the week. I don't have a problem with the means test and the withdrawal will be in November anyway which isn't in the look back period. My lawyer last week said it didn't really matter since I am have a lot of extra exemptions because of the wildcard in my state. It will take several days for my mutual fund company to get me the money once I put in the redemption.

I know I should do anything but sell my first born before taking money out of my IRA but I will need the money next week to pay my utilities, cell phone and a couple of other bills.

Any advice would be appreciated.

[JoeBankrupt33]

It sounds like you'll be OK in any case. But, you may have the least worry if you withdraw after you file. You may want to get the process rolling a day or two before hand so you can get the money as soon as possible.