MarilynG1
Expert Alumni

Retirement tax questions

No, the Roth conversion amounts don't count as Roth IRA Contributions, so your Prior Year Roth Contributions would only be any amounts directly contributed to your Roth IRA.

 

From investopedia.com:

 

"The funds that you put into the Roth are considered converted funds, not contributions. That means you have to wait five years to have penalty-free access to your funds in your Backdoor Roth IRA if you’re under the age of 59½.

 

 Such converted funds differ from regular Roth IRA contributions, which can be withdrawn at any time without taxes or penalties."

 

 

 

 

 

 

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