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Will an IRA withdrawal stop the Senior Freeze?

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NJ.com

Q. I help a senior citizen with her finances and prepare the Form PTR-1 for the annual Senior Freeze tax benefit. She is having some serious medical issues, and her only assets are her home and a modest IRA worth $40,000. She will need to access some cash, but I am afraid withdrawing from the IRA, which will cause a fairly dramatic increase in her income, may void her from this important senior benefit. Should she try to reverse mortgage her home instead to limit the income hit? She depends on the annual freeze payment to pay her taxes and stay in her home. — Helper A. It’s kind of you to help…

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