roth ira: Not ALL ROTH IRA Withdrawals are Tax Free
- 10/20/21 04:47 PM
Not all Roth IRA withdrawals are tax-free. Even worse, some can be socked with a 10 percent early withdrawal penalty tax, and this can happen even when there’s no income tax hit. Any withdrawals from any of your Roth accounts are federal-income-tax-free qualified withdrawals if you, as a Roth IRA owner, • are age 59 1/2 or older, and • have had at least one Roth IRA open for over five years. Such withdrawals are usually state-income-tax-free too. Good! You must pass both the age and the five-year tests to have a qualified withdrawal. The five-year period for determining whether your withdrawals are qualified … (8 comments)
Not all Roth IRA withdrawals are tax-free. 
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