Roth IRS

Ltran0718 — Tue, 10 Mar 2026 05:23:50 GMT

What is the penalty of withdrawing early from a Roth IRA account to help purchase a house?

Re: Roth IRS

LaceyL — Wed, 27 Jul 2022 22:37:38 GMT

Hi! Thanks for asking!

You can use the first time home buyer exception to withdraw up to $10,000 of earnings without penalty. If the Roth IRA has been opened at least 5 years, the withdrawal is also exempt from regular income tax. Withdrawing more than $10,000 of earnings will result in regular income tax plus a 10% penalty, unless you are over age 59-1/2.

Here is a link for how to enter it into TurboTax when the time comes: https://ttlc.intuit.com/community/retirement/discussion/i-m-taking-an-early-distribution-from-my-roth-ira-for-a-1st-time-home-purchase-i-believe-this-is-an/00/714885

topic Roth IRS in Get your taxes done using TurboTax

Roth IRS

Re: Roth IRS