Cybertruck
Dryer sheet wannabe
- Joined
- Jan 17, 2020
- Messages
- 24
Hi,
I plan to withdraw all contributions I have made into my Roth IRA. I am not yet 59 1/2 but I have read that as long as the account has been open for at least 5 years there are no penalties or taxes.
On the other hand I have also read that contributions can only be withdrawn 5 years after the contribution was made.
I just want to be 100% sure before I make the withdraw because some of my contributions were from last year and the year before.
The IRA account was opened 15 years ago.
Thanks!
I plan to withdraw all contributions I have made into my Roth IRA. I am not yet 59 1/2 but I have read that as long as the account has been open for at least 5 years there are no penalties or taxes.
On the other hand I have also read that contributions can only be withdrawn 5 years after the contribution was made.
I just want to be 100% sure before I make the withdraw because some of my contributions were from last year and the year before.
The IRA account was opened 15 years ago.
Thanks!