Creating New Roth from Old Roth
Say one is well over 59 1/2 and has an old Roth that has been in place for many years – 10, 15, 20 years.
Can one create a new Roth from the old Roth funds with a different purpose and probably different set of beneficiaries and IMMEDIATELY have access to the new Roth capital and/or earnings – no waiting period?
Permalink Submitted by Alan - IRA critic on Thu, 2018-12-06 22:40
Yes, once one Roth is qualified, all of your Roths are qualified, no matter when you open them. All of your Roths are considered one combined account for tax purposes.
Permalink Submitted by Gerald D on Thu, 2018-12-06 23:04
Thank you very much, Alan.