Taxes and Penalties on Roth IRA Distributions

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

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