PenaltiesYou can make taxfree withdrawalshttp://todschaussurespascherei

http://www.chaussuresmagasins.comTypesThe difference between a Roth IRA and a traditional IRA is in when the money you contribute is taxed. In a regular IRA, your contributions don’t count as part of your taxable income, meaning that they are made with “pre-tax dollars.” You won’t pay any taxes on that money until you make withdrawals,Roth Ira Withdrawal Penalty For Qualified Education. At that point, the money is taxed as regular income. Contributions to a Roth IRA, on the other hand, are in “after-tax dollars.” You can’t deduct the money on your income taxes, and the money is taxed like the rest of your income. So in the future, when you withdraw money, you don’t have to pay income taxes on it at all. In both types, your investment earnings are not taxed.

PenaltiesYou can make tax-free withdrawals, or “distributions,” from a Roth IRA starting at age 59 1/2. If you take out money before then, you can be hit with a penalty of 10 percent of the amount distributed. In early withdrawals of money from a regular IRA, meanwhile, you pay both the regular income tax and the 10 percent penalty. It should not be used as a substitute for professional medical advice, diagnosis or treatment. LIVESTRONG is a registered trademark of the LIVESTRONG Foundation. Moreover, we do not select every advertiser or advertisement that appears on the web site-many of the advertisements are served by third party advertising companies.

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