Let’s say Bob started Roth contributions at age 40. He put in $5,000 per year for 10 years, $50,000 total.

The account is now worth $80,000 and Bob is 57. I know he can take out his $50,000 contributions with no restrictions at all.

If he also withdraws the $30,000 of earnings is he hit with TAX and 10% Penalty, or just the 10% Penalty?

Scenario 2:

Bob made 1st Roth contribution at age 57. He put in $5,000 per year for 3 years, $15,000 total.

Bob is now 60 and the account is worth $18,000. If he withdraws the entire account I assume he owes TAX on the $3,000 but no 10% Penalty since he’s over age 59 1/2?

Thanks guys!