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Author: lorenzo2 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121585  
Subject: Re: No tax on returned Roth Contributions? Date: 3/12/2003 10:55 PM
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Tomato, tomahto, indeed. You're not getting penalized 10% for withdrawing that Roth contribution. You're getting a smaller retirement savings credit than you would have had otherwise. And that's fair enough - the credit is determined (in part) by the net amount of your 2002 contributions to retirement savings (IRAs, 401Ks, 403Bs, etc.). You reduced that number by $1000 when you withdrew the contribution. Surely you don't expect to get credit for something you didn't do?

Lorenzo
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