1. Generally, yes. Taxes will be at ordinary income tax rates.
    1. You cannot deduct losses from your IRA investments, nor utilize capital gain tax treatment.
  2. EXCEPTIONS:
    1. You never pay taxes on Roth contributions.
    2. Earnings on Roth contributions are exempt from taxation if the distribution is qualified: To be a “qualified distribution”, you must meet BOTH of the following conditions:
      1. You are age 59 ½ or older.
      2. You have had the Roth IRA account for at least 5 years.
    3. Non-deductible IRA contributions are not subject to taxation.
    4. Unlike a Roth contribution, when taking a distribution, only a portion of your distribution will be considered a return of non-deductible IRA contributions.