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PhytoExtractum Shop: Maeng Da Thai Kratom Leaf Powder

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OfflineLearyfanS
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Registered: 04/20/01
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Penalties for withdrawing Roth IRA funds
    #9901046 - 03/03/09 01:55 AM (13 years, 2 months ago)

I looked around for this info, but couldn't find an exact answer.  Hypothetically, if someone had $10,000 in a Roth IRA fund and withdrew it without having a valid reason, what percentage would be lost to taxes and the penalty for not being 59 1/2? 

Thanks!









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Mp3 of the month:  The Monocles- Psychedelic (That's Where It's At)



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Offlineagrestic
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Registered: 03/01/09
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Re: Penalties for withdrawing Roth IRA funds [Re: Learyfan]
    #9901232 - 03/03/09 02:42 AM (13 years, 2 months ago)



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OfflineLearyfanS
It's the psychedelic movement!
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Registered: 04/20/01
Posts: 33,098
Loc: High pride!
Last seen: 2 hours, 10 minutes
Re: Penalties for withdrawing Roth IRA funds [Re: agrestic]
    #9901571 - 03/03/09 04:22 AM (13 years, 2 months ago)

Thanks for the link and the well wishes.  I think I need both of those things.  :cool:










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InvisibleBrasco
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Registered: 05/26/07
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Re: Penalties for withdrawing Roth IRA funds [Re: Learyfan]
    #9905449 - 03/03/09 08:22 PM (13 years, 2 months ago)

I heard it's 15%.  I just cashed out an inherited IRA I have.  The financial place that holds your IRA can withold the tax for you or you can get all of the money and have to pay the tax next year.


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