Roth IRA Distribution

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • Redneck
    Senior Member
    • Jun 2005
    • 184
    #1

    Roth IRA Distribution

    Client started Roth in 1998. Contributions over the years were 8200.00. Value in 2009 is 13697.00.Took a distribution in 2009 of 5000.00. Am I correct in thinking this is a distribution of clients contribution and is not taxable and is not subject to 10% penalty.
    Tags: None
    • ChEAr$
      Senior Member
      • Dec 2005
      • 3872
      #2
      Originally posted by Redneck
      Client started Roth in 1998. Contributions over the years were 8200.00. Value in 2009 is 13697.00.Took a distribution in 2009 of 5000.00. Am I correct in thinking this is a distribution of clients contribution and is not taxable and is not subject to 10% penalty.
      Absolutely. Roth IRA';s are the best thing since sliced bread.
      ChEAr$,
      Harlan Lunsford, EA n LA

        Comment

        • dyne
          Senior Member
          • Jul 2005
          • 764
          #3
          I agree that ROTH IRA's are great but NONE of my clients have ever invested money
          into a ROTH IRA. I believe I will recommend ROTH IRA's in my tax newsletter which I give to
          each of my clients every year.

            Comment

            Previous template Next

            Disclaimer

            Collapse

            This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

            Working...