Replies to post #186644 on Amarin Corp Plc (AMRN)

[jomama9231]

Yeah. See below second paragraph.
Ideally check with your accountant before doing so if your taking money out early.


If the withdrawal is made before age 59½ and doesn’t exceed the amount that has been contributed to the Roth IRA over the years, then no income tax is charged. As stated earlier, withdrawals of contributions are tax-free.

If the withdrawal is made before age 59½ and includes earnings, then you may have to pay both income tax and a 10% penalty. There are certain situations under which the IRS will allow you to withdraw without penalty, however. Funds can be distributed for higher education expenses or to buy a home. Certain hardship circumstances, such as permanent disability, also allow funds to be withdrawn tax- and penalty-free

[noelan_s09]

As long as you have met the 5 year rules, and you are 59 1/2 you are not taxed or penalized withdrawing from a roth. You can also take your contributions out anytime without tax or penalties. Only the earning will be taxed if you have not met the 5 year rule.

Noel

[Chemist2]

Hi always; yes & no. See my post 186649

[PSea]

Not if it's done as a 72t distribution.