can take roth ira contribution without penalty
In the simplest terms, not accounting for compounding, fees, dividends, and other factors, your earnings are $272.50. That means your account total is $5,272.50. Under Roth IRA rules (check IRS Publication 590 for more information), you can withdraw up to $5,000 without paying taxes on it, and without paying a penalty.Once you dip into your earnings â that $272.50 â the story changes. You can withdraw what you have contributed at anytime, and for any reason.n the simplest terms, not accounting for compounding, fees, dividends, and other factors, your earnings are $272.50. That means your account total is $5,272.50. Under Roth IRA rules (check IRS Publication 590 for more information), you can withdraw up to $5,000 without paying taxes on it, and without paying a penalty.