At what point can one take contributions out of a Roth without penalty? Is this where the five year rule comes in, or does that only apply to situations like first-time home-buyer?Thanks for taking the time to answer something so basic. There is so much here to learn - it's slowly coming together!jennifer
I'm pretty sure contributions can be taken out at anytime, and that it is when you're dealing with earnings that these issues of 5-year and some other condition be met.Check page 44 of this publication if you want a few examples to help you out:http://ftp.fedworld.gov/pub/irs-pdf/p590.pdfJB
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