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Retirement tax questions
If you took a distribution from your Roth IRA and you are under age 59 1/2, or you haven't had a ROTH IRA for at least five years, then your distribution will be subject to an early withdrawal penalty. Your withdrawal won't be subject to ordinary income tax unless your removed more than your cumulative contributions less previous withdrawals. An early withdrawal with no hardship exception is subject to a 10% penalty on the amount of the withdrawal.
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‎April 1, 2024
8:11 PM