TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 4

Solved

Withdrawal from Roth

Forum|Forum|3 years ago
October 14, 2022
2 replies
13 views

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?

Not A Product Question

Best answer by Anonymous_

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-distributions

Anonymous_Answer

Level 15

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-distributions

Level 4

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).