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Is there a penality on your income taxes for pulling from ur roth ira account? If so how much? ?
Last summer i needed the money so i pulled from my roth ira. So now that im getting ready to do my taxes should i be concerned about a fee for doing that? Im worried and no one can give me an answer since its a roth ira. Of there is a fee, how much. What if i put some of the money back, but not the whole amount?
1 Answer
- Anonymous9 years agoFavorite Answer
How did the money get into the ROTH? If you did annual contributions, what was the total you put in? What was the total you took out?
The earnings get hit with income tax and penalty if the distribution is not qualified.