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Do I have to pay taxes on my Stash Retire investments?

For Roth IRAs

Generally, you will not pay taxes on money you withdraw from your Roth IRA after the age of 59 ½. If you choose to withdraw $10 or more from your Stash Retire Roth IRA before you are 59 ½,  you may be subject to penalties and/or taxes.

 

For Traditional IRAs

Generally, you will not pay taxes on money you are putting into your Traditional IRA. You will owe income taxes on the amount of money you are withdrawing from your account at your ordinary tax rate.

Additionally, the IRS requires you to begin taking Required Minimum Distributions (RMDs) from your account beginning at age 70 ½.


DISCLOSURES

This information is subject to change and should not be considered legal or tax advice. Stash does not provide legal or tax advice. If you have questions regarding your personal circumstances, you should consult a tax or legal professional.

Roth IRA: Withdrawals of the money (Contributions) you put in are penalty and tax free. Prior to age 59½, withdrawals of interest and earnings are subject to income tax and a 10% penalty. All earnings are tax free at age 59½ or older, assuming your first contribution was more than 5 years prior. Income Eligibility applies.

Traditional IRA: Withdrawing prior to age 59½, generally means you’re subject to income tax and a 10% penalty. Withdrawals after age 59½ are only subject to income tax but no penalty.

 

 

 

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