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Ask The Expert: Withdrawals

Q:
Asked by James 7/21/12

Can you borrow money from a Roth account?

Matthew Malone A:
Answered by Matthew Malone 7/24/12
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224 out of 224 people found this useful.

Yes, you can. In practice, it’s borrowing; in IRS parlance, it’s a “rollover.” The IRS allows you to take money out of your Roth IRA and “roll” it back into the same account, as long as it’s completed within 60 days. Those are the basics, but it’s always best to consult a tax advisor or accountant when contemplating such a withdrawal.

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