ROTH IRA DISTRIBUTIONS

[WTANK17BE1]

I am Older than 59 1/2 Years of Age. I have had a ROTH IRA for Over 25 Years (CONTRIBUTION ROTH IRA). I did a ROTH IRA CONVERSION at Age 60. Will I have to Pay Any TAXES or PENALTIES on ANY of the DISTRIBUTIONS from Either the CONTRIBUTION ROTH IRA or the CONVERSION ROTH IRA?

[Jennifer_A]

Contributions to a Roth IRA are:

1. Taxed at the time of contribution so

2. The account grows tax free meaning

3. Distributions are not taxed

A Roth Conversion means funds were moved from a tax deferred account (like a Traditional IRA) into the Roth IRA.  The amount of the conversion

1. Is taxable as ordinary income in the year of conversion

2. There is no penalty

3. Can be done regardless of age or AGI