I am over 60. I opened a Roth IRA over 10 years ago. I just rolled over the Roth into another company. It has got only 2K in it and AGI is < from the $198K married contribution limit.
If I convert 5K from my traditional IRA into my Roth now in 2021 and withdraw 5K in 2022, will this amount be exempt from the 5 year rule? Will any earnings withdrawn from the 5K be exempt from the 5 years rule?
Same question with an additional contribution of 2K now in 2021. Let say that in addition to the 5K conversion avobe I contribute an additional 2K and withdraw $6K in 2022, is anything subject to the 5 year rule or would the entire amount be treated tax free?
I am under the impression I would be tax free all around including the earnings because I held the initial Roth for over 5 years and am over 60.
