Withdrew money from Roth (Sharebuilder)...out to get me? (IRA, fund, invested)

[fieldsy1024]

I put in 1,100 of my own money through Sharebuilder for a Roth IRA. After a week I wanted to take it out (I decided to go with Vanguard) so I did (I never put it in any funds). I look at my bank account and it says I have 1,100.07.

Since I only put in 1,100 and I gained 7 cents (I don't know how), will I get that 10% penalty hit?

[LongArm]

Originally Posted by fieldsy1024

Since I only put in 1,100 and I gained 7 cents (I don't know how), will I get that 10% penalty hit?

Not if you roll it into another Roth within 60 days. BTW, a 10% penalty on 7 cents is less than a penny. I have a feeling the IRS won't care too much.

Your Roth money was probably parked in some interest-bearing money market-type vehicle while waiting to be invested.

[fieldsy1024]

I'm a dumbass lol
I thought it would be 10% of the entire amount.