Assume that for whatever reason, there is a year where my taxable income is very low or even negative, and I know that before the end of the year already.
If I take Early Distributions from my Traditional IRA or 401(k), do I still have to pay 10% early withdrawal tax? (there are no 'qualifying' reasons).
Or will I not have to pay those/get them back when I file my taxes?
Alternatively, can I use such a year to move a large chunk of 401(k) tax-free to 401(k)ROTH ?