Did you know there are several ways to take money out of your IRA tax-free? Remember, just because you CAN, doesn’t mean you SHOULD.
The first thing you should do is consult your tax/legal/financial advisor(s) and determine if taking money out of your IRA is the right step for you!
Option 7: Oil and gas investments.
Many people forget that some investments in an oil and gas investment generate an ordinary loss, which also can be utilized to offset distributions from an IRA.
Everyone’s situation is different! Make sure to consult your trusted advisors to determine what is appropriate for you!
Information gathered from MD Producer article for professionals