No. of Recommendations: 1
2)If I start a Roth IRA A/C now, is it correct that I can withdraw my contribution 5 years from now without penalty?

3)Is the withdrawal only limited to the contribution that is 5 years old or I can withdraw all the contribution that I have done to than A/C?

You can withdraw a Roth contribution in 5 minutes without tax or penalty.

Distributions from a Roth are either "qualified" as defined in IRS Publication 590 or "nonqualified." Qualified distributions are not taxed and are never subject to a penalty.

There are ordering rules for the sequential treatment of nonqualified distributions:

1. Contributions: no tax or penalty
2. Conversions: no tax; maybe penalty
3. Earnings: tax and penalty

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