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URL:  http://boards.fool.com/early-withdrawal-penalty-taxes--12334182.aspx

Subject:  Early withdrawal penalty & taxes ??? Date:  4/3/2000  11:15 PM
Author:  melinepavel Number:  20919 of 74759

Hello there,

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?


Pavel
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