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The only thing that would be subject to both income tax & the 10% penalty would be any investment gains, not your original contributions.
So you can remodel your basement worry free.
Is there somewhere on the IRS site that substantiates this or something I can send to our "advisor"? I guess if necessary I will need to talk to his supervisor? I kind of feel like either through ignorance or a desire for us not to remove our money he is holding it hostage :)
Sure let me give you a link, hang on..............
Terrific. Thanks. Glad to know our first advisor did not mislead us.
That's one quick one, if this so called "investment advisor" doesn't know this, you need a new advisor.
Please remember to ACCEPT.
I agree. Like I said, after we moved out of state were assigned him. Haven't moved anything around with them in years as we started with another company. Thanks, XXXXX XXXXX