My understanding is that a person under age 59.5 can make a penalty-free IRA distribution for medical expenses meeting the Schedule A deductibility rules. And, the distribution would be counted as income, if from a non-Roth IRA.
If a person did such a distribution, would those medical expenses still be deductible on Schedule A? Would that be the same, if the distribution was from a Roth?
(I think the answer to both is yes, but sometimes I think wrong.)
Thanks, George
Sounds like double dipping but it is not.
The form 5329 exclusion from the early distribuition excise tax is allowed along with the schedule A itemized deduction.
Same with a Roth.
Not necessarily. If you made non-deductible contributions to your IRA (meaning contributions for which you did not take a deduction, which happens if you already have a 401k/403b at work, and you make too much like 58k if single, and you contribute to your IRA), then part of your contributions are tax-free. If during your lifetime you made 50k of non-deductible contributions, 100k of deductible contributions, 50k in earnings, the 0.25% of your withdrawal will be tax-free.
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