Are Roth IRA distributions subject to taxation?
If you take a qualified distribution from your Roth IRA, distributions are exempt from federal taxation. If your Roth IRA distributions are non-qualified distributions, certain taxes and penalties may apply. Due to the complexity of the Roth IRA distribution rules and tax ramifications, you should consult a tax advisor prior to taking distributions from your Roth IRA.
Related Questions
- The CUT ordinance states that Universal Service Fund charges are subject to taxation. Does this apply to both Federal and State USF charges?
- Will the Roth IRA owner be subject to the 10 percent additional tax on early distributions under IRC Section 72(t)?
- What is the generation-skipping transfer (GST) tax and what distributions are subject to the GST tax?
