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re: Question about early Roth distributions
Posted on 5/11/13 at 4:31 pm to TigerDeBaiter
Posted on 5/11/13 at 4:31 pm to TigerDeBaiter
quote:
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.
Why does it sound too good to be true?
It's just treated the same as a taxable account, with earnings taxed as short term capital gains rate (as you've held it for less than a year)
1
Posted on 5/11/13 at 6:20 pm to Siderophore
You quoted something different, but my interpretation of my original question was.
So I can deposit $100k in May, earn $15k on it throughout the year, and as long a I take out $94,500 by April I'm all square with the my taxes? This is what seemed to good.
So I can deposit $100k in May, earn $15k on it throughout the year, and as long a I take out $94,500 by April I'm all square with the my taxes? This is what seemed to good.
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