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Investing
The money would not be taxable as long as the money withdrawn is the money you contributed and not part of the interest. For example, you invested 500 in the account and over the year you earned $25 in interest for a total in the account of $525. If you withdrawal $500 for a washer then the funds are not taxable because it was part of the funds you contributed. The only amount that is taxable is the $25 from the interest.
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March 29, 2025
1:47 PM
21,161 Views