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Investing/Strategies / Retirement Investing
|Subject: Early withdrawal penalty & taxes ???||Date: 4/3/2000 11:15 PM|
|Author: melinepavel||Number: 20919 of 78037|
I'm deeply interested to learn following:
I' ve got an IRA account. Say, I have $4000 principal, and $ 300 in earnings. If I withdraw the whole $4300 before being 59.5 years old, am I going to be charged 10% penalty at the firm where my account is, and
then I will be liable for taxes on my tax return?
Or the firm will not deduct anything, and I will need to pay my taxes on my tax return?
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