what are the rules for a traditional ira 
there are several rules for a traditional ira the maximum contribution amount is set every tax year and the irs requires individuals to begin taking money out of their traditional ira beginning april 1 the year after they turn 73 on or after jan 1 2023 and 72 if they reach age 70 between jan 1 2020 and dec 31 2022 1213the traditional ira is subject to income taxes and a 10 penalty if unqualified withdrawals occur before 59 years old lastly your annual contribution to a traditional ira can be at most what you earned in the contribution year 27