Ask The Expert: Contributions

Q:
Asked by Jason 3/9/13

I opened a Roth IRA in 2009 with $5,000. This year, at the age 26, I have to withdraw the $5,000. What fee, taxes or penalties will I incur?

Matthew Malone A:
Answered by Matthew Malone 3/19/13
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Generally speaking, you can withdraw contributions (but not earnings) from a Roth IRA at any time, without fees or penalties. For more specific tax advice, consult an accountant or financial advisor.

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