I see lots of notations that EARNINGS withdrawn before 5 years are taxable even if over 59 1/2 years old ... BUT what about withdrawing CONTRIBUTIONS made? Im 64 years old and opened a Roth IRA 3 years ago. This year I withdrew $2500 but I've contributed $20k in 3 years... Will I be taxed for taking withdrawal from my contributions?
Expert Reviewed
@dmertz Is there no penalty or tax when the 5 year requirement has not been met?
There is no penalty after age 59½ regardless of how long one has had the Roth IRA.
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