Hi, here is the situation: I'm over 59 1/2, employed and have Roth IRA because I can not contribute to Traditional IRA. Also I have a 401k. My plan is to open Traditional IRA and roll over limited funds from 401k for some small trading. But continue to make contributions to Roth IRA only, as before.
Questions:
*Is this OK with IRS?
*I'd think with rollover to my new Traditional IRA there is no tax penalty?
*If I trade in the traditional IRA, hope with realized profit, taxes will be deferred until distributions are taken?
