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Withdrawing money from Roth
Posted on 9/8/14 at 7:34 am
Posted on 9/8/14 at 7:34 am
What are the tax implications of withdrawing contributions (not earnings) from the ROTH ? As in, how do you disclose that to the IRS?
This post was edited on 9/8/14 at 7:56 am
3
Posted on 9/8/14 at 7:38 am to GenesChin
(no message)
This post was edited on 9/8/14 at 10:59 am
Posted on 9/8/14 at 9:21 am to GenesChin
There are no tax implications, you've already paid the taxes on Roth IRA contributions.
Posted on 9/8/14 at 9:45 am to GenesChin
You can take your contributions out whenever. Nothing to disclose. I took out some money last year for a home repair, and my Vanguard statement didn't have anything taxable for that account on it.
This post was edited on 9/8/14 at 9:46 am
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