Dec 14

Please cite a source, thank you!


2 comments so far...

  • Christopher C Said on December 14th, 2009 at 8:27 am:

    Contributions to Roth IRAs are made only from earned income that has already been taxed (and is not tax deductible). So withdrawals up to the total of contributions are federal income tax free.

  • lizzgeorge Said on December 14th, 2009 at 8:32 am:

    You can always withdraw Roth contributions–any time for any reason–penalty and tax free. The reason is that you deposited that money after-tax, so you don’t owe the govn anything on it (now or ever).

    Sources: http://www.fool.com; http://www.cnnmoney.com; Yahoo! Finance; MSN Money; et al.

    If you want “proof” of a source, just Google “Roth IRA withdrawals.” You should get dozens of official sites ready to confirm this information.

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