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N
nanaof13
February 3, 2025
Question

Do I get a 1099-R if I withdrew from a ROTH?

  • February 3, 2025
  • 1 reply
  • 0 views
Do I need a1099-R if I withdrew $5,000. from my ROTH?

    1 reply

    M
    MayaD
    February 3, 2025

    Yes, you will receive a 1099-R for the distribution from your Roth IRA account. 

     

    To avoid the 10% early withdrawal penalty:

    • Withdrawals must be taken after age 59½.
    • Withdrawals must be taken after a five-year holding period.
    • If you transfer your Roth IRA at any age and request that the check be made payable to you, you have up to 60 days to deposit that check into another IRA without taxes or penalties.

    For more information check: Are Distributions Taxable?

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