MinhT1
Employee Tax Expert

Deductions & credits

No, if you are not a first-time home buyer, there is no exception to the early withdrawal penalty.

 

If you are younger than 59 1/2 or the Roth IRA is less than 5 years old, you have to pay income tax and a penalty of 10% on the earnings withdrawn.

 

Please read this TurboTax Help topic for more information.

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