Roth IRA: Distributions

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Roth IRA and other Retirement Planning topics.

What are Qualified and Non Qualified Distributions

Roth IRA: Distributions

There are two types of Roth IRA Distributions: Qualified and Non Qualified Distributions. When you withdraw a Qualified Distribution your distribution is tax and penalty free. On the contrary, Non Qualified Distributions are subject to taxes and penalties. Qualified Distributions include:

· Distributions made on or after the date that you turn 59 ½ years old.

· Distributions made to your beneficiaries after you pass away.

· Distributions due to a disability.

· Distributions for a first time home buying program, however, there is a $10,000 limit.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Retirement Planning Tip Site? Request a Tip Now!


Guru Spotlight
Jolyn Wells-Moran