New here with question!

[jaquie]

I'm Jaquie and I'm new here. I need help with a Roth IRA. I've been told I could cash one in and if I repaid the money within 60 days I wouldn't be taxed on it. The best I can tell I should be able to do this since I'm over 59 1/2.

Great to be here and hope I can find some help.

 

[moviequeen1]

HI Jaquie,welcome aboard
If you click on the "Financial' thread here at SF,I'm sure other posters will help you
Sue in Buffalo,NY

 

[ossian]

Hi Jacqie and welcome from someone who had wandered away and has now wandered back.

 

[twinkles]

welcome jaquie

 

[mike4lorie]

G'day... Welcome...

 

[911]

Welcome!

Roth IRA’s are generally IRA’s for retirement purchased using “after tax” money. The rule (or law) is that when cashed in or withdrawals are made, no tax is due, not even on the money that was earned. You will need to show the transactions on your year-end tax return.

 

[Ruthanne]

Hi Jaquie..

 

[Snowbound]

Welcome Jaquie! I'm sorry to say that I don't know much about IRS'a but I'm sure you will find some good information here.

 

[Liberty]

Hi...you might want to post your question on the Financial Thread for more info!

 

[mike4lorie]

Welcome

 

[jaquie]

Thank you all so much for the welcome! I joined here and then due to a family emergency I've been away for a while....however, the medical emergency has been handled and I'm back to "normal" or as normal as possible!

 

[gennie]

Welcome. I'm glad normal has returned for you. Normal is good.

 

[terry123]

Welcome!

 

[Pecos]

Good to have you aboard.

 

[AZ Jim]

Welcome. I'm glad normal has returned for you. Normal is good.

Not always.