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Retirement tax questions
THere is no further tax and no penalties on any component of your Roth IRA
you are over 59.5 years old so there is no 10% penalty on any component of the Roth IRA.
The Roth has been open for at least 5 years and you are over 59.5 years old, so there is no tax on the earnings..
you can distribute the entire Roth IRA now (including the earnings) with no further tax and no further penalties. There is no need to wait until 2025.
here is an IRS tool that will confirm that for you. Takes about 5 minutes to complete:
https://www.irs.gov/help/ita/is-the-distribution-from-my-roth-account-taxable
‎June 1, 2023
3:23 AM
947 Views