roth ira

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1iron
1iron Member Posts: 2 Newcomer
edited January 15 in Retirement Income

Hi, I have a Roth IRA that's been open and funded for more than 5 years. I am over 65 and still working. If I continue to put money into the IRA, are any earnings on the account taxable if i withdraw. Simple example

$10,000 in the account now

put in $5,000 this year, making a total of $15,000.

If i make $15,000 on that investment this year, the account now has $30,000.

Let's say i need to withdraw $20,000 next year, so the original $15,000 plus $5,000 from the profits, is any of that withdrawal taxable.

Thanks-KB

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