cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 3

Early withdrawal from IRA

I am a disabled veteran and I need to liquidate my IRA  in order to make some ends meet.  Does it matter, in regards to fees and taxes, if I close the account all at once or withdraw my initial deposits first?  The account is over 5 years old, I understand I may withdraw any deposits without tax or penalty, as that money has already been taxed, but if it's lumped in with the earned interest when I withdraw everything from the account does it get hit with any additional fee?  

Please advise as to the smartest, cheapest way to close a Roth IRA early.  Thanks for your time.

 

Respectfully,

Tim