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Updated about 4 years ago,

User Stats

24
Posts
9
Votes
Michael Forbes
  • Rental Property Investor
  • Cleveland, OH
9
Votes |
24
Posts

Roth IRA/401k withdrawal for REI - Need Tax Help

Michael Forbes
  • Rental Property Investor
  • Cleveland, OH
Posted

Hi All - I am 31 years old and found a duplex with a lot of upside but it has to be a cash purchase. I want to pull money from my Roth IRA but want to do it correctly so I don't get hit with taxes and penalties. I am 31 years old.

Retirement savings history: I started contributing to my company's Roth 401k option in 2010. I left that job in 2015 and rolled the money into a Roth IRA. Are these contributions eligible for withdrawal without tax and penalty? If so, how do I find out my contributions versus the growth so I don't pull from any growth? In 2015, I opened a Roth IRA with Charles Schwab and started contributing. How can I find out how much I've contributed here and is this eligible for withdrawal without tax and penalty?

Thanks in advance for the help! I only have about a week to get the funds together and my tax guy is slammed right now so I haven't been able to reach him. 

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