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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: lisalisalisa who wrote (203298)11/7/2002 5:38:45 PM
From: benwood  Read Replies (1) of 436258
 
Unless you are 59 1/2 or older or are using the money for some exempted purpose (college tuition, medical, after you account has been around for 5+ years I believe), then you would owe a 10% early distribution penalty, but beyond that I I don't believe any taxes (for ROTH IRA -- traditional IRA you would owe taxes plus the 10%).
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