Permalink Submitted by Alan - IRA critic on Tue, 2017-04-18 23:33
Yes. Your balance in regular Roth contributions can be withdrawn tax and penalty free any time. After all your regular contributions have been withdrawn, additional distributions must come from your conversions, oldest conversions first. If you get to conversions less than 5 years old, you owe the 10% recapture tax on the taxable portion of those conversions. Earnings come out last. To properly report any of these distributions on Form 8606, you must have kept track of your regular and conversion balances.
Permalink Submitted by Alan - IRA critic on Tue, 2017-04-18 23:33
Yes. Your balance in regular Roth contributions can be withdrawn tax and penalty free any time. After all your regular contributions have been withdrawn, additional distributions must come from your conversions, oldest conversions first. If you get to conversions less than 5 years old, you owe the 10% recapture tax on the taxable portion of those conversions. Earnings come out last. To properly report any of these distributions on Form 8606, you must have kept track of your regular and conversion balances.