Are distributions that are less than the original contribution (not earnings) subject to income tax?

Question

i.e. if I took a $1500 distribution from my roth ira, and my origial contribution was at least $1501, do I owe taxes for the $1500 distribution?

Answer 1

You must have held the Roth IRA for at least 5 full years to take a distribution of the original contribution without paying the 10%penalty tax.

Answer 2

distributions from a Roth IRA are not taxable. if you withraw them early however, you would be taxed on the earnings only, and subject to a 10% penalty.