- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Question about early Roth distributions
Posted on 5/11/13 at 2:52 pm
Posted on 5/11/13 at 2:52 pm
My Roth is already fully funded for 2013.
I have an unexpected expense coming up next month, can I withdraw up to my 2013 contribution now, and then "recontribute" it by the end of the year?
Seems simple enough, Just want to make sure there is nothing I'm missing.
I have an unexpected expense coming up next month, can I withdraw up to my 2013 contribution now, and then "recontribute" it by the end of the year?
Seems simple enough, Just want to make sure there is nothing I'm missing.
2
Posted on 5/11/13 at 3:16 pm to jso0003
2013 contributions are only locked in on April 15 2014. .
You can withdraw and recontribute to your heart's content prior to that point. You can even over contribute as long as you pull out the excess of 5500 before April 15
You can even withdraw earnings made on this year's contributions penalty free, but I wouldn't advise it. Not going to be much compared to the risk of paperwork headache with the IRS.
Note that all this is independant of taxes.
You can file your taxes next year before recontributing to the Roth.
(This thread reminds me why I love my Roth.)
You can withdraw and recontribute to your heart's content prior to that point. You can even over contribute as long as you pull out the excess of 5500 before April 15
You can even withdraw earnings made on this year's contributions penalty free, but I wouldn't advise it. Not going to be much compared to the risk of paperwork headache with the IRS.
Note that all this is independant of taxes.
You can file your taxes next year before recontributing to the Roth.
(This thread reminds me why I love my Roth.)
This post was edited on 5/11/13 at 3:21 pm
Posted on 5/11/13 at 7:47 pm to jso0003
You can do a 90 day ( I think 90 but it might be 60) day "loan" and not pay a penalty once every 12 months.
I'm not sure about some of the other rules.
I'm not sure about some of the other rules.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News