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[quote=Anonymous]Does anyone know the tax penalty on closing out an IRA Roth account? We have about $38,000 in it and want to close it to use the money for something else (yes we have done our research so I’m not looking for opinions on that). 12,000 of that is “earnings” and 26,00 is contributions. We are getting mixed answers and we do our taxes ourselves so we don’t have a tax guy, so I was curious if anyone had a good idea.[/quote]
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