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08-09-2006, 10:51 AM
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Roth IRA withdrawal question
If you take money out of your Roth IRA that is principle amount that you have had in the account for more than 5 years, is there any IRS tax penalty for early withdrawal if you do this before age 59.5?
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08-09-2006, 12:05 PM
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Re: Roth IRA withdrawal question
No, as long as the amount doesn't exceed your regular contributions, then there is no additional tax penalty. Here are the rules for a Roth IRA: http://www.irs.gov/publications/p590/index.html
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08-09-2006, 08:23 PM
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Re: Roth IRA withdrawal question
You don't even have to wait 5 years (unless it is a roll-over).
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