Withdrawal from Roth

[kgraghu]

Do I have to pay a 10% penalty for withdrawing contributions from 5+ years old Roth Ira account before the age of 59 1/2 years?  

[Anonymous_ · Accepted solution]

See https://www.irs.gov/newsroom/what-if-i-withdraw-money-from-my-ira

Exceptions: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distri...

[kgraghu]

According to this, the withdrawal of regular contributions to ROTH is not taxable

www.irs.gov/publications/p590b#en_US_2021_publink100089915

 

Are Distributions Taxable?

You don't include in your gross income qualified distributions or distributions that are a return of your regular contributions from your Roth IRA(s).