Over the years, the Castle has been home to the Smithsonian Institution Archives and the Woodrow Wilson International Center for Scholars. Today, the Castle houses the Institution's administrative offices and the Smithsonian Information Center.
Withdrawals made after age 59 and 1/2 are normal retirement withdrawals and are not taxed. You paid tax on that income when you first contributed to the Roth IRA. If the withdrawal is made before age 59 and 1/2 and is only up to the amount that has been contributed to the Roth IRA then no income tax is charged. Withdrawals of contributions are tax-free.
Your Roth IRA withdrawals may be taxable if: 1  Youâve not met the five-year rule yet for opening the Roth and you are under age 59 Â½: You will pay income taxes and a 10% penalty tax on earnings that are withdrawn (the 10% penalty may be waived if you meet one of the eight exceptions to the early withdrawal penalty tax).