Qualified roth ira (definition)
What does it mean “once the roth ira becomes qualified”? Does it have something to do with holding a roth ira for 5 years before you can take earnings or growth of the roth ira?
What does it mean “once the roth ira becomes qualified”? Does it have something to do with holding a roth ira for 5 years before you can take earnings or growth of the roth ira?
Permalink Submitted by Alan Spross on Tue, 2012-07-10 02:13
Yes, there are two requirements. 5 years from the year of the first Roth contribution is one and reaching 59.5 or becoming totally disabled is the other. For beneficiaries, death of the IRA owner replaces the age 59.5 requirement.