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Author: ctsleepyhead Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121568  
Subject: Tax Fears Date: 12/17/2010 3:41 PM
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I'm hoping someone can help me. I feel like I made a major mistake. I went to open a Roth IRA for a family member to rollover a 401k in to and accidently funded the Roth IRA with their checking account! (Yes, I'm an idiot.) So $6,000 was put into the Roth from their checking and then the rollover went through. A few weeks later, I withdrew the $6k. Will I be penalized for early withdrawal?? Is it true you can withdraw contributions at any time, tax free? What about any gains that were made in those few weeks?

Any feedback is greatly appreciated.
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