Roth IRA: Early Withdrawals u0026 Tax-Free Income

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Information Roth IRA: Early Withdrawals u0026 Tax-Free Income

Title	:	Roth IRA: Early Withdrawals u0026 Tax-Free Income
Lasting	:	10.16
Date of publication	:
Views	:	5 rb

Thank you for posting your informative videos
Comment from : jhors

HELP! Do you have any videos on ROTH IRA's earning distributions for qualified education expenses? (for children within a family business now using the ROTH funds for their qualified college expenses)? Our CPA says the earnings withdrawals aren't subject to the 10 penalty but they will incur the kiddie tax This can't be right! The ROTH fund was created from the child's EARNED INCOME and has always been the child's asset -- and it was not transferred from the parent!!
Comment from : Digital Detective

Great Video I have two questions I have a Employer Sponsored Roth 401k account My employer match up to 4 of my yearly income Are those contributions taxed? if so, lets say that I have 200k in this Roth account and 30k are from employer matched contributions If I decide to take a lump sum distribution (Age: 60)on the 200k only 30K will go as Taxable Income on my tax return, correct? Of course, I need to make sure that those 30k does not make me jump into the next tax bracket
Comment from : Trevi Lights

so if i wanted to get my contributions back for whatever reason i would just sell off $,6000 worth of stock/etf from my investments and it will not be taxed?
Comment from : jon bucedi

What is the rules for withdrawing while disabled
Comment from : Ryan Steinborn

To pull money out, don't you have to sell your shares?
Comment from : Nepthu

Very informative things to think about
Comment from : Amy Steele

Im looking to access one of my IRA's I have three, one is a rollover IRA , the other two are ROTH IRA's Curious if you have any guidance regarding this scenario? Appreciate your advice in advance
Comment from : DA Travels

If I took closed 1 of my 4 Roth IRA accounts in 2020 ( liquidated with abr check ) took 820000 it was a ROTH account I'm only 55yrs old The brIRS wrote me I did not claim on my taxes last year They want to tax mebr and 10 i have in all 4 Roth accounts (now i have 3 Roth account brleft) i funded with contributions for past 25yrs (off and on) a total ofbr 8500000 in only contributions funds only My contributions are dividedbr up in 3 accounts with 3 banks ( USAA, Schwab and Vanguard) All my moneybr is in Money market accounts I have made in gains only about 1 total bror 850000 (I lost in 2009 in stocks I never went back into market) brDoes the IRS look at all of my Contributions 85k worth as 1 piggy-bank? brOr does it look at each account separate? The check 820000 i took was brjust a portion of all my piggy bank of 8500000 in life time brcontributions? Form IRS 8606 says that you can take out contributions branytime and that's what i did Its says "show your total contributions" brsince Roth Started 20yrs ago, I did this It's about 85k and about 6k brwas gainsThe account i close had a gain of 20000 I just hope that i brcan tell IRS that i am just taking my "rightful" small portion of my brhistoric 85k piggy bank of my contributions Or do they look at each braccount separate and will tax and 10 against the very small 20000 brgains that came from the TD amertrade account i closed I just want to brreport i took "some" of my total 85k historic contributions from my brTotal sum from the past 25yrs and be done! Thank YOU!
Comment from : gunner fizzbiully

Can Roth IRA distributions be added to a persons gross income causing a reduction of income tax refund??
Comment from : Rev Ortiz-Lugo

I have seen so many videos and I get confused even more, I wanna brstart my retirement plan and I clearly do not know how to brgo about it I heard of Roth IRA but I need to know brmore Any good advice/ideas will be great
Comment from : Kelly Kells

New Sub! Question! I am 37 and the account is 10 years old I would like to pull from my Roth IRA some of those gains to open a business What can i expect? Will i be allowed?
Comment from : Punny Money

Very informative video I do have a question I have a solo 401(k) with self-directed checking one for Roth funds and one for traditional funds The contributions are almost always invested in brokerages like M1 finance and Gemini (Roth funds) What is considered a withdrawal, is it when you pull the money out of the brokerages back to the checking account or is it when you pull money out of the checking account to your pocket? I would appreciate a response
Comment from : Wendello Tanael

can you also withdraw contributions from your Roth 401k without any taxes and penalties at any time?
Comment from : Bergati Pane

Great video! I have not been utilizing my Roth to its full potential but that changes today! Just to clarify, if I invested $500 in 2019, $250 in 2020, $2,500 in 2021, will be adding $3,500 to hit $6,000 limit this upcoming week Is it correct after I make that last contribution (if I needed it) I could pull out any amount under $6,750 with no taxes or penalties? Or can you only withdraw the contribution for that tax year? Thank you
Comment from : The JC Effect