Consequences of liquidating a dating introducing
Since you have already paid federal income taxes on the contributions you made to your Roth IRA, you may withdraw amounts up to the total of your contributions at any time for any reason without creating a taxable event.
You do not pay taxes on these funds and you do not even have to report the withdrawal of these funds.
Funds withdrawn from a traditional IRA will always be taxed as ordinary income while funds withdrawn from a Roth IRA may be free from federal income taxes.
Contributions to Roth IRAs are made with after-tax dollars.
If that money hasn’t been shared between the shareholders by the time the company is removed from the register, it will go to the state.