Steve, my understanding is that all dividents in IRA's are always reinvested in the stock that generated the dividends. (mine always have been) It is possible to remove some funds from an IRA prior to 59 1/2 without penality in some instances. My understanding on that is that the amount removed must be a constant amount from month to month. IRS PUB 590 covers IRA's in great depth but don't know if it covers your specific situation. IRS PUB 590 is accessible on line. (It's about 90 pages of material.) My advice (unsolicited of course) is to re-think your situation and find a way to live without taking the dividends as the re-invested dividends will cause your IRA to really put out some strong earning down the road because of their compounding effect.
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