withdrawing from roth ira

Forum|Forum|1 year ago
April 2, 2025
1 reply
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i had a pension with my previous employer and i had them send my new brokerage the lump sum and rolled it into a roth ira. it was less than 5 years ago and i'm not 59 1/2. can i withdraw that amount (assuming it's my contribution) and not get penalized nor taxed? how do i know that money was taxed already? i can't seem to find anything from my returns from that year.

Ask the Experts - MetLife VIII - April 2025

RobertB4444

It should have been taxed at the time it was rolled into the Roth. If it isn't on that year's tax return then it wasn't taxed and you should probably file an amendment to fix that.

In the meantime an early withdrawal from a Roth IRA in the circumstances that you describe does indeed incur a penalty and sometimes even becomes taxable income even though you already paid taxes on it.

Here are a list of reasons that you can pull money out of a Roth early with no penalty.

@danichung78

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