Fact-check: Roth Conversion over 59.5
Just to make sure I am seeing this clearly:
Client, age 69, converts IRA to Roth, pays appropriate taxes, and then immediately puts the Roth funds into a SPIA.
Because he’s over 59.5 and the SPIA is a series of equal periodic payments, the normal 5-year waiting period on accessing conversion is doubly moot, correct?
Permalink Submitted by Alan - IRA critic on Thu, 2019-06-06 18:11
Does the client already have a qualified Roth IRA, or is this conversion his first Roth contribution?