Converted Roth IRA Withdrawal
I have had a Roth IRA for over ten years. Additionally, I am planning to convert a traditional IRA to a Roth after I turn 60. Do I have to wait an additional five years to be able to make tax free withdrawals from the converted IRA, or does the fact that I already have a Roth negate this additional requirement for any converted IRAs in the future?
I appreciate any help with this issue that you can provide.
Thank you.
Permalink Submitted by Anonymous (not verified) on Mon, 2009-11-02 03:06
At the moment you turn 59 1/2 [u]all[/u] your Roth money (contributions, old and future converted money, and earnings) is tax-free for you and can be taken out [u]anytime[/u].
*see numerous posts about 5-year period rules below.
pmk