dmertz
Level 15

Retirement tax questions

The ordering rules for Roth IRA distributions are automatic.  Form your own records, you yourself must establish the amount of your Roth IRA contributions, which come out first, and the amount of your conversions which come out next.  Amounts distributed before age 59½ from your basis in taxable conversions that have not completed the 5-year conversion holding period are subject to a 10% additional tax unless you have an exception to that penalty.

 

Ordering rules:  https://www.irs.gov/publications/p590b#en_US_2022_publink100089915