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I am 63 years old. If I take money on my Roth IRA, will I…

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I am 63 years old...
I am 63 years old. If I take money on my Roth IRA, will I have to pay taxes?
Submitted: 2 years ago.Category: Tax
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Answered in 11 minutes by:
2/11/2016
Tax Professional: Anne, Master Tax Preparer replied 2 years ago
Anne
Anne, Master Tax Preparer
Category: Tax
Satisfied Customers: 2,452
Experience: Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses
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Hi

I'm Anne. I've been preparing taxes for 27 years, and I'll be helping you today.

Although you may withdraw your contributions any time tax free, If it has been at least 5 y ears from the beginning of year you first set up and contributed to your Roth IRA, then any distribution will be tax free.

If you have further questions, please post them here & I'll be notified.

If this answer has helped you, please take the time to rate positive by clicking on the stars.

It is ONLY through positive ratings that we are compensated for our time and knowledge.

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Tax Professional: Anne, Master Tax Preparer replied 2 years ago

I see you read my answer but didn't yet rate it.

Like all of the tax experts here, I strive to give excellent service here. Do you have any further questions, or do you need clarification on this matter?

Although I know that rating takes a little extra time, I would really appreciate it if you would rate my answer

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