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Appendix D. Roth IRA

Appendix D. Roth IRA

This new type of IRA was created by the Taxpayer Relief Act of 1997. Under certain conditions, earnings can be withdrawn income-tax free.

If a Roth IRA has been in existence for five years and the IRA owner is age 59½ or older, no portion of the distribution from the Roth IRA is taxable. The contribution was taxed going in, so it is not taxed when paid out. The really great news is all earnings are then paid tax free.


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