How to withdraw contributions from Roth IRA

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How to withdraw contributions from Roth IRA Anonymous Sun Apr 19 11:48:35 2020 No.18552837 [Reply] [Original]

Hello biz. I use my Roth IRA as a savings account that lets me play with stocks. However I want to cash out a little bit and not sure how exactly to do that. I know we can only take out contributions penalty free but when withdrawing it only gives me two options. Qualified or non qualified distributions. If I wanna withdraw 12k of my contributions do I just do this as a non qualified distribution and tell them to not withhold taxes? That’s what I assume.

Anyway someone please give your input and tell me if I’m doing it right. I don’t want to owe the IRS shit. Thank you.

>>	Anonymous Sun Apr 19 12:04:38 2020 No.18553039 >>18552837 If you take money out you’re gonna owe. You need to learn to read better my friend.

>>	Anonymous Sun Apr 19 12:14:25 2020 No.18553183 >>18553039 No I can take out contributions of a Roth IRA. I only owe on gains I take out.

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