The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: No tax on returned Roth Contributions?||Date: 3/12/2003 5:53 PM|
|Author: 1000101||Number: 64473 of 122843|
I am in the same situation, I withdrew $1000 of original Roth contributions, thinking it would have no tax consequences, mainly going on the following Fool article:
Choose a Roth IRA if you can do without the tax break right now. It's a more flexible instrument, because:
It allows you to withdraw your contributions at any time, penalty- and tax-free.
So thanks Motley Fool, real money saving investment advice. I now owe $100 and must file an admended return due to this dangerously false advice.
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