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BobLOfthouse asks,

The question not answered yet is the tax issue. I know their is a 10% penality cost plus 20% Federal Tax hit.

The 10% penalty is correct, but I don't know where you got the 20%. An IRA withdrawal is taxed at ordinary income tax rates (i.e. 15%, 28%, 31%, etc.) You'll also have to pay state income taxes if they apply.

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