If you choose to drill holes in the basin, make sure the holes are smaller than the solids handling rating of the pump (generally 1/4 in. to 1/2 in. for a standard sump pump). This will prevent larger solids from entering the basin and clogging the pump.
1 You must report the amount you withdrew from your retirement plan to the IRS. 2  You may have to pay an additional 10 percent tax on your withdrawal. 3  The additional 10 percent tax normally does not apply to nontaxable withdrawals. 4  Nontaxable withdrawals include withdrawals of your cost in participating in the plan.
Once you withdraw all of your contributions, you start taking out earnings. The earnings portion of an early withdrawal is taxable and subject to the 10 percent penalty. For example, imagine you have $30,000 in a Roth IRA and $20,000 comes from contributions.You could take out up to $20,000 tax-free and penalty-free.However, that last $10,000 counts as taxable income and the early withdrawal penalty applies.or example, imagine you have $30,000 in a Roth IRA and $20,000 comes from contributions. You could take out up to $20,000 tax-free and penalty-free. However, that last $10,000 counts as taxable income and the early withdrawal penalty applies.