Help! I just realized I made a major mistake. I closed a $39.72 Roth MM fund that was held less than 5 years. The $39.72 came from a Roth account that I no longer wanted to reinvest any payouts in additional shares of the fund. Will I be penalized on just the $39.72 or will I be penalized on the entire amount in Roth holdings? How much is the penalty?
You'll only be penalized on the $39.72, but they take an arm and a leg.intercst
You'll only be penalized on the $39.72, but they take an arm and a leg.You need to stop limb shopping at Tiffany. IF, and that's a major if, there is a penalty it will be $4.00, but there's likely no penalty. See the ordering rules in Chapter 2 of Pub 590.PhilRule Your Retirement Home Fool
Hopefully you contributed more than $39.72 in cash in the same year. That you can withdraw without penalty - prorated.--Kuzu
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