Sentences with phrase «fifth taxable year»

To be more precise, earnings can be withdrawn tax - free beginning on the first day of the fifth taxable year after the year the Roth IRA was established.

More precisely, this rule will apply if your withdrawal occurs before the first day of the fifth taxable year after the year of the rollover.

Not exact matches

If withdrawn before the first day of the fifth year after the year you first established a Roth IRA, taxable as ordinary income; also subject to the 10 % early withdrawal penalty if you're under age 59 1/2 unless an exception applies.

The rules provide that at least one - fifth of your taxable capital gain must be reported in the year of sale and each of the four following years.