AmitaR
Employee Tax & Finance Expert

Retirement tax questions

Hi ri-solano, 

Great question!

1.  You may withdraw the principal you  contribute at any time, since you're already 59 1/2 years of age.  For Roth IRA, there is no RMD requirements.  Roth IRAs do not require withdrawals until after the death of the owner.

Additional info:

https://www.irs.gov/retirement-plans/roth-iras

https://www.irs.gov/retirement-plans/traditional-and-roth-iras

https://www.irs.gov/retirement-plans/retirement-plan-and-ira-required-minimum-distributions-faqs#:~:...

 

2.  Any withdrawals from your 401K and any other taxable income is used to determine your taxable amount of Social Security Benefits.  Up to 85% of your Social Security Benefits could be taxable depending on your other income. 

https://www.ssa.gov/benefits/retirement/planner/taxes.html

Hope it helps.

 

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