Roth IRA - An individual retirement plan that bears many similarities to the Traditional IRA. Contributions are never deductible, and qualified distributions are tax-free. A qualified distribution is one that is taken at least five years after the taxpayer established his/her first Roth IRA and when he/she is age 59 ВЅ, disabled, or using the withdrawal to purchase a first home (limit $10,000), or deceased (in which case the beneficiary collects).
Roth IRA : an individual retirement plan that bears many similarities to the traditional ira. contributions are never deductible, and qualified distributions are tax-free. a qualified distribution is one that is taken at least five years after the taxpayer established his/her first roth ira and when he/she is age 59 ВЅ, disabled, or using the withdrawal to purchase a first home (limit $10,000), or deceased (in which case the beneficiary collects).
Roth IRA