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To: lisalisalisa who wrote (203298)	11/7/2002 5:38:45 PM
From: benwood	Read Replies (1) \| Respond to 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%).

To: lisalisalisa who wrote (203298)	11/8/2002 9:02:43 AM
From: Luis Bardi	Read Replies (1) \| Respond to of 436258

I'm in a similar situation. (Under-employed, and living off an IRA) Paying 10% penalty is not THAT big deal. The remainder (after that 10%) of the money I take out of my SEP-IRA is taxed as income. You don't have to pay income tax if you are taking it from a Roth-IRA, but I think there are some time restrictions before you can take it out without penalties. (5 years, I think) You can go to a book store and browse one of the hundreds of books written about this subject..