December 10, 2001 at 6:55 PM CST - Updated July 1 at 9:05 AM
In order for earnings to be tax free, you must first meet a five-year holding period for your Roth IRA.This period begins with the tax year for which the first contribution is made.After that, any earnings you withdraw for a qualified distribution reason are tax-free and IRS penalty free.Qualified distributions include:
Distributions made on or after the date on which you attain age 591/2.
Distributions made to your beneficiary (or your estate) upon your death.
Distributions attributable to your being disabled, and
Qualified first-time home buyer distributions (up to $10,000).