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IRA Money Market withdrawal

I have an IRA Money Market account with my bank.  Initial deposit was $6,000.  Interest earned to date was $583.  Am I able to withdraw the principal amount of $6,000 without having to report it on any tax forms, like any other standard fund transfer and only the interest earned needs to be reported if withdrawn.  My bank is not licensed to advise on potential tax implications.  

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IRA Money Market withdrawal

You didn't say what type of IRA you have.

Any distribution from an IRA or a Roth IRA must be reported.

Taking funds from Traditional IRA before you are 59 1/2 can be costly because of tax and penalties.

Taking contributions from Roth IRA is allowed without tax or penalty.

@user17581286132 

 

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