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Updated about 2 years ago on . Most recent reply

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Joshua D.
  • Rental Property Investor
  • Pittsburgh, PA
171
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706
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Roth IRA tax free

Joshua D.
  • Rental Property Investor
  • Pittsburgh, PA
Posted

Can you take money from roth ira to do construction without paying taxes

  • Joshua D.
  • Most Popular Reply

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    Bill B.#1 Real Estate Deal Analysis & Advice Contributor
    • Investor
    • Las Vegas, NV
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    Bill B.#1 Real Estate Deal Analysis & Advice Contributor
    • Investor
    • Las Vegas, NV
    Replied

    If this is a self directed ira and you want to call it an investment, no. 

    If you’re just taking money out Roth withdrawals are already tax free because they are after tax investments. 

    You can always withdraw contributions tax free even if it is probably a bad idea. 

    You withdraw “profits” tax free if you are over 59.5 years old and the account is at least 5 years old. Otherwise you’re facing a 10% penalty. 

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