6' 5 (1.96 m) Blake Shelton was born on June 18, 1976 in Ada, Oklahoma, USA as Blake Tollison Shelton. He was previously married to Miranda Lambert and Kaynette Gern.
A: Technically, you canât borrow money from a Roth IRA, at least not like you would from a traditional loan, but there are other options. The IRS does allow you to withdraw money from your Roth IRA, but you might have to pay a penalty.There is a way to work around the IRSâs requirements if you only need to borrow money for a short period of time by rolling over the money thatâs in your account.his is called a Roth IRA rollover. If you can't repay the full amount within 60 days, you do have the option to repay a partial amount. However, you'll have to pay a 10% penalty on the portion of the money that you keep, and there is a one-year waiting period between rollovers.
Any withdrawal from a traditional IRA will be subject to tax as ordinary income at your regular tax rate. Any money you take out before 59 1/2 also will have a penalty of 10 percent of the amount taken out. An exception is if you inherited an IRA. In that case, the withdrawal is taxable, but there won't be a penalty.