5 year rule
I am 63 years old.I converted from a regular IRA to a Roth on Jan. 5, 2010. Am I subject to a 10% penalty tax if I withdraw principle? How about earnings?
I am 63 years old.I converted from a regular IRA to a Roth on Jan. 5, 2010. Am I subject to a 10% penalty tax if I withdraw principle? How about earnings?
Permalink Submitted by Alan Spross on Wed, 2010-01-13 23:06
You are never subject to the early withdrawal penalty after age 59.5.
Is this your first Roth IRA conversion or contribution? If not, what year did you first contribute to a Roth?