At what age can taxpayers start withdrawing from their traditional IRA without penalty?

Taxpayers can start withdrawing from their traditional IRA without incurring a penalty at the age of 59½. This age is significant because it represents the point at which the Internal Revenue Service (IRS) allows individuals to access their retirement savings without facing an additional 10% early withdrawal penalty.

While one may be able to withdraw funds from their traditional IRA at any age, doing so before reaching 59½ typically results in this penalty, unless specific exceptions apply, such as for disability, certain education expenses, or first-time home purchases. The age of 59½ is clearly defined by the IRS as the threshold for avoiding early withdrawal penalties, which is why this answer is correct.