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melaniecoghill
Level 3

Roth withdrawal of contributions

 
1 Best answer

Accepted Solutions
ColeenD3
Expert Alumni

Roth withdrawal of contributions

It is unclear what you are asking, but you may withdraw your own contributions, tax free.

 

  • If you are 59½ or over, you may withdraw as much as you want, as long as your Roth IRA has been open for at least 5 years.
  • If you are under 59½, you may withdraw the exact amount of your Roth IRA contributions with no penalties.
  • There are special exemptions for first-time home purchase and college expenses.

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3 Replies
ColeenD3
Expert Alumni

Roth withdrawal of contributions

It is unclear what you are asking, but you may withdraw your own contributions, tax free.

 

  • If you are 59½ or over, you may withdraw as much as you want, as long as your Roth IRA has been open for at least 5 years.
  • If you are under 59½, you may withdraw the exact amount of your Roth IRA contributions with no penalties.
  • There are special exemptions for first-time home purchase and college expenses.
melaniecoghill
Level 3

Roth withdrawal of contributions

While I am under 59 and I had the Roth less than 5 years, I did only withdraw my contributions or basis. Thans you!

melaniecoghill
Level 3

Roth withdrawal of contributions

What if a company refuses to issue  correction to a 1099 misc?

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