dmertz
Level 15

Retirement tax questions

The 5-year rule for conversions no longer applies after age 59½.  The 5-year rule for converted amounts only serves to to eliminate an early-distribution penalty on converted amounts.  Amounts distributed after age 59½ are not early distributions.

 

Further, because your father is over age 59½ and he has met the separate 5-year rule for distributions to be qualified distributions, any distribution from his Roth IRAs is a qualified distribution, free of tax and penalty.

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