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February 26, 2024
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Since I will be 73 in 2023, what portion of my Roth IRA must I pay tax on?

  • February 26, 2024
  • 1 reply
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How can I calculate how much I must pull from my Roth IRA and pay on my 2023 taxes?
Best answer by VolvoGirl

You don't have to take a RMD Required Minimum Distribution from a ROTH IRA .  And ROTH distributions are tax free if you had  the account 5 years.  That's the benefit of a ROTH.

 

See IRS pub 590B page 31

https://www.irs.gov/pub/irs-pdf/p590b.pdf 

 

1 reply

VolvoGirl
VolvoGirlAnswer
Employee
February 26, 2024

You don't have to take a RMD Required Minimum Distribution from a ROTH IRA .  And ROTH distributions are tax free if you had  the account 5 years.  That's the benefit of a ROTH.

 

See IRS pub 590B page 31

https://www.irs.gov/pub/irs-pdf/p590b.pdf