Roth IRA held less than 5 years |
|
|
Tax on Principal |
Tax on Earnings |
10% Penalty |
Greater than 59 1/2 years |
No |
Yes |
No |
Less than 59 1/2 years |
No |
Yes |
Yes |
Death of owner |
No |
Yes |
No |
Disability of owner |
No |
Yes |
No |
Medical expenses |
No |
Yes |
No |
Health insurance premiums for Unemployed |
No |
Yes |
No |
Qualified higher education expenses |
No |
Yes |
No |
Qualified first-time home purchase |
No |
Yes |
No |
Substantially equal periodic payments |
No |
Yes |
No |
Tax levy |
No |
Yes |
No |
Roth IRA held more than 5 years |
|
Tax on Principal |
Tax on Earnings |
10% Penalty |
Greater than 59 1/2 years |
No |
No |
No |
Less than 59 1/2 years |
No |
Yes |
Yes |
Death of owner |
No |
No |
No |
Disability of owner |
No |
No |
No |
Medical expenses |
No |
Yes |
No |
Health insurance premiums for Unemployed |
No |
Yes |
No |
Qualified higher education expenses |
No |
Yes |
No |
Qualified first-time home purchase |
No |
No |
No |
Substantially equal periodic payments |
No |
Yes |
No |
Tax levy |
No |
Yes |
No |