Say I withdrew less than I contributed to my IRA — IRA withdraw less than contributions made — Are my withdrawals exempt from taxes?
Regarding the circumstance of IRA withdraw less than contributions, you might have distributions from a Roth IRA that are a return of regular contributions. These aren’t subject to tax or penalty no matter when they’re withdrawn. Only distributions allocable to earnings might be subject to tax and the 10% additional tax.
If you are selling items at a farmer's market, learn how to file your taxes with H&R Block. From cash income to bartering, these tax tips will help.