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Message
re: Withdrawing money from Roth
Posted on 9/8/14 at 8:05 am to LSUengineer12
Posted on 9/8/14 at 8:05 am to LSUengineer12
quote:
Could be wrong, but pretty sure there is still a Penalty. And it's around 10%
I think exceptions are like 1st time home purchases and a few others.
There are no penalties for withdrawing your contributions from your roth because they have already been taxed. It is only the earnings in the roth that are subject to taxation due to the lack of taxes paid on them up to that point
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