@jefals wrote:
So, then, let's see if I got this:
The 10% penalty is related to the separate clocks. ( A separate clock for each year I do a conversion). And I avoid this penalty since I'm over 59 1/2.
The "tax on earnings" is based only on the first clock. No matter when I do conversions, as long as I don't touch the earnings till 2026, I'm tax free from then on out.
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Correct?
Yes.
