How much is the penalty to take money out of a Roth IRA?

Answer According to, "Unless an exception applies, most distributions from a Roth IRA before the owner reaches age 59 1/2 will be subject to an 'early withdrawal penalty' of 10% ..." Exc... Read More »

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Penalty for Withdrawing From a Roth IRA?

Roth IRAs are one of the two main types of individual retirement accounts. Unlike a traditional IRA, contributions made to a Roth IRA are not tax-deductible. The upside of a Roth, however, is that ... Read More »

What Is the Penalty to Withdraw Roth Contributions?

Roth IRAs were introduced as an alternative retirement savings plan for individuals. The Roth IRA does not allow contributions to reduce your taxable income, but the money can be taken out of the a... Read More »

What is the penalty for closing a Roth IRA early?

The decision to close a Roth IRA early merits serious consideration, as it may subject the account owner to tax penalties; however, certain types of account closures are not subject to additional t... Read More »

At what age can you withdraw money from an ira without a tax penalty?

You can normally withdraw money from a traditional IRA without a penalty after the age of 59-1/2, according to IRS Pubication 590. You can withdraw the amount of your original contributions at any ... Read More »