Ask The Expert: Withdrawals

Q:
Asked by Rosemary 11/25/15

I am 62 years old and have had my Roth IRA account for around 15 years. I am looking to buy a home and need what little money I have in my IRA for a down payment. How do I get the money and do I have to pay taxes on it?

A:
Answered by John Baumer 12/2/15
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58 out of 58 people found this useful.

Yes, you will be able to withdraw funds from your Roth IRA without any taxes.

Simply call your IRA custodian and request a check.  You also may be able to have funds sent directly to your bank if they allow an electronic fund transfer (EFT).

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