Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 26, 2024 11:24:38 AM

Since I will be 73 in 2023, what portion of my Roth IRA must I pay tax on?

How can I calculate how much I must pull from my Roth IRA and pay on my 2023 taxes?

0 1 94
1 Best answer
Level 15
Feb 26, 2024 11:41:07 AM

You don't have to take a RMD Required Minimum Distribution from a ROTH IRA .  And ROTH distributions are tax free if you had  the account 5 years.  That's the benefit of a ROTH.

 

See IRS pub 590B page 31

https://www.irs.gov/pub/irs-pdf/p590b.pdf 

 

1 Replies
Level 15
Feb 26, 2024 11:41:07 AM

You don't have to take a RMD Required Minimum Distribution from a ROTH IRA .  And ROTH distributions are tax free if you had  the account 5 years.  That's the benefit of a ROTH.

 

See IRS pub 590B page 31

https://www.irs.gov/pub/irs-pdf/p590b.pdf