Are there any penalty's for early withdrawal from a Roth-IRA? If so, what are the rules? Is there a link anyone can post for me with the "official" rules.
Thanks,
Karl
kdm
Nov 13 2002, 11:04 AM
The answer to your question can be found in IRS Publication 590 on page 56. You can find the publication at www.irs.gov. In the first paragraph it explains that a return of contributions are not taxed. However, earnings may or may not be taxed depending on if they are considered qualified distributions.
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