If we cash in a roth ira do we get penalized?

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If we cash in a roth ira do we get penalized?

2007-01-30 14:17:25 · 2 answers · asked by noahsark 1 in Business & Finance ➔ Personal Finance

2 answers

If I understand the roth ira correctly, you do not get penalized for withdrawals if the proceeds go towards education or the purchase of a home. Check the irs website to make sure.

2007-01-30 14:33:07 · answer #1 · answered by quillologist 5 · 0⤊ 0⤋

You can take out your initial investment at any time without paying taxes or penalty.

2007-01-30 14:21:06 · answer #2 · answered by ralph.cramdon 5 · 0⤊ 0⤋