- #1
skeptic2
- 1,775
- 59
The following is from regulations regarding setting up a Roth IRA
"Withdrawal of earnings prior to five years and age 59½ are subject to penalty and income tax."
I read that to mean:
Withdrawal of earnings (prior to five years) AND (prior to age 59½) are subject to penalty and income tax.
If I withdraw the earnings either prior to five years OR prior to age 59½, but not both, are they exempt from income tax?
"Withdrawal of earnings prior to five years and age 59½ are subject to penalty and income tax."
I read that to mean:
Withdrawal of earnings (prior to five years) AND (prior to age 59½) are subject to penalty and income tax.
If I withdraw the earnings either prior to five years OR prior to age 59½, but not both, are they exempt from income tax?