ROTH conversions
62 yr old has Roth IRA he established 6 yrs ago with minimal balance. If he converts some of his TIRA and puts it in the existing Roth IRA will he have to wait 5 yrs before being able to access gains tax free?
62 yr old has Roth IRA he established 6 yrs ago with minimal balance. If he converts some of his TIRA and puts it in the existing Roth IRA will he have to wait 5 yrs before being able to access gains tax free?
Permalink Submitted by David Mertz on Wed, 2019-03-06 16:56
No. This individual has already met the requirements to make any Roth IRA distributions be qualified distributions, tax and penalty free.