We appreciate your visit to Eddie funded his Roth IRA yesterday Unfortunately today he has an unexpected financial emergency When can he take out his contribution to the Roth IRA. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Final answer:
Eddie can withdraw his contributions from a Roth IRA immediately without penalty.
Explanation:
To avoid penalties for withdrawing contributions from a Roth IRA, the IRS stipulates that a withdrawal can be made penalty-free at any time. However, the earnings on those contributions may be subject to penalties and taxes if withdrawn before the age of 59 ½ and if the account has been open for less than five years. In the case of Eddie, since he funded his Roth IRA yesterday, he can withdraw his contributions immediately without penalty.
Learn more about withdrawal from a Roth IRA without penalty here:
https://brainly.com/question/36490559
#SPJ11
Thanks for taking the time to read Eddie funded his Roth IRA yesterday Unfortunately today he has an unexpected financial emergency When can he take out his contribution to the Roth IRA. We hope the insights shared have been valuable and enhanced your understanding of the topic. Don�t hesitate to browse our website for more informative and engaging content!
- Why do Businesses Exist Why does Starbucks Exist What Service does Starbucks Provide Really what is their product.
- The pattern of numbers below is an arithmetic sequence tex 14 24 34 44 54 ldots tex Which statement describes the recursive function used to..
- Morgan felt the need to streamline Edison Electric What changes did Morgan make.
Rewritten by : Barada
