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New Member
posted Mar 2, 2022 1:57:37 PM

Is a distribution from my ROTH IRA counted as income?

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2 Replies
Level 15
Mar 2, 2022 2:10:28 PM

Yes it is income reported on the 1040 form line 4a but probably not taxable income on line 4b.

Expert Alumni
Mar 2, 2022 2:10:59 PM

In general, ROTH IRA distributions are not taxable.

 

However, there are exceptions:

 

If your Roth IRA is less than 5 years old, the earnings portion of the distribution is taxable, and if you are under 59 1/2, that earnings portion is also subject to the 10% early withdrawl penalty.