The rules for taking an IRA distribution from an individually owned IRA depend upon the type of account. There are two types of individually owned IRAs – traditional and Roth. The treatment of traditional and Roth IRAs differs significantly. For both types of accounts, distribution is governed by the age of the participant as well as the reason for the distribution. If you have a traditional IRA, your contributions might be tax deductible but your distribution may be taxable. To avoid tax whe...