Roth draw pre 59 1/2 penalties/tax
My understanding is that the original contributions/conversions can be withdrawn without tax penalties if they were done more than 5 years ago. Is that correct? Thanks for your help as always. Mary
My understanding is that the original contributions/conversions can be withdrawn without tax penalties if they were done more than 5 years ago. Is that correct? Thanks for your help as always. Mary
Permalink Submitted by Alan - IRA critic on Fri, 2024-10-04 16:55
All regular contributions can be withdrawn anytime without tax or penalty, and come out first. Conversions withdrawn in the first 5 years and prior to 59.5 are subject to penalty, but no tax.