WRONG! : 1. Direct contributions to a Roth IRA may be withdrawn

A qualified distribution is simply one that happens five years after you first started to contribute to a Roth IRA and you've reached age 59 1/2. A qualified distribution would be a "normal" distribution of funds from the account.

Early withdrawals are normally subject to a 10% additional tax penalty. Fortunately, the IRS has made some exceptions to the 10% tax penalty. Generally, if you are disabled, a first time homeowner, or if you are using the money to pay for higher education expenses, then you are exempt from the tax penalty. There are several more exemptions to the 10% penalty, which are covered in more detail in IRA Withdrawals.

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• "Direct contributions" is different from "distribution". -health&beauty- ♀ (185 bytes) () 04/09/2010 postreply 08:18:36