Viewing a single comment thread. View all comments

Grevious47 t1_iyee5pw wrote on November 30, 2022 at 7:50 PM

Reply to comment by perfect_elbows in Downside to Cashing Out Roth & Traditional IRAs (besides the obvious)? by perfect_elbows

I should qualify my answer to say you actually may well get 16k in cash out, but that will come with a hefty tax bill at the end of the year. IE you wouldnt pay the taxes on withdrawl, but you would OWE the taxes in your next filing.