Are there ways to avoid the early distribution penalty on an IRA?

The following exceptions apply to the 10% additional tax on early distributions of ANY qualified retirement funds:

• Death; total and permanent disability;
• IRS levy under Sec 6331;
• Medical expenses more than 7.5% of your adjusted gross income;
• Distributions to qualified reservists;
• Distributions made as a series of substantially equal periodic payments over your life expectancy or that of you and your designated beneficiary;
• Qualified first-time homebuyer distributions;
• Distributions not in excess of your qualified higher education expenses and not in excess of certain medical insurance premiums paid while unemployed.