If I where to take some of my money out of my roth ira account would I have to pay any taxes or penalities?

3 Responses to “If I where to take some of my money out of my roth ira account would I have to pay any taxes or penalities?”

1. RoyalScam says:

   November 12, 2007 at 9:19 pm

   You can take out your *original contributions* from a Roth IRA without taxes or penalty if the money has been in the account for at least 5 years. No taxes because you already paid taxes on that money when you made it. No penalty because it was put in the account over 5 years ago.

   You cannot take out any *earnings* without taxes or penalty.

   So if you put in $2000 more than 5 years ago, you can take that out, but not the $500 you made on that $2000.
2. Wayne Z says:

   November 12, 2007 at 10:09 pm

   They can stand your contributions at any time and without taxes or Strafen.Die chances well, with the development of the markets been, the entire equilibrium are less than which you in it. If that is the case, you could take it without taxes or you would pay duty Strafen.In the improbable case that your account is set more worth than you into him, taxes and 10% a punishment on the incomes. Finally, if the account had rolled over a traditional form of the Irish Republican Army or 401k, and it was not on the account for 5 years, then pay you 10% would have punishment however no Steuern.Ich hope that was not too confusing!
3. src50 says:

   November 12, 2007 at 10:21 pm

   http://www. ira. com