- For the 5 year holding that period... if I moved $ from Child 1 to Child 2 would that be considered a new contribution (I'm assuming yes, but I am the owner and the funds have been in the system for over 5 years.
-How do you calculate the rollover? .... If I have 4000$ with the last contribution in 2019 with interest of 3$/year (let's say 16$ total) should I only rollover 4000-16=3984$?
And in order to rollover 3984$ to a Roth IRA child would need to have that much earned income, correct?
A work place retirement account it seems would not be a true Roth IRA so no subtractions would be needed, are there other loop holes that could come into play... workplace retirement contributions?
Also - current state plan was set up ... the company overseeing has changed hands ... the current operator only has records since 2014 but I have canceled checks from 2009, is this going to be a huge hassle?
Thank you.
