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Author: melinepavel Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76390  
Subject: Early withdrawal penalty & taxes ??? Date: 4/3/2000 11:15 PM
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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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