A 35 -year-old freelance worker contributes $⁢4,000 annually to a Roth IRA. They decide to withdraw $⁢3,000 for a vacation. What are the taxes and penalties on this withdrawal?

Name: Revolt
Rating: 4.5 (1200 reviews)

Question

Revolt · Accepted Answer

no penalties or taxes

Retirement - Test Test

A 35 -year-old freelance worker contributes $⁢4,000 annually to a Roth IRA. They decide to withdraw $⁢3,000 for a vacation. What are the taxes and penalties on this withdrawal?

More from this Course