@alenkeln wrote:
- My age is 76... Roth opened in 2002. I have made two recent conversions from trad IRA: 57K tax paid but converted to Roth in 2019 and 110K tax paid but converted to Roth in 2020. For these two basis conversions in to Roth will I be subject to 10% penalty, if I take a distribution now of these two basis and all past basis (contribution & conversions) only leaving all earnings to remain in the Roth account?
In year 2025, I should be able to withdraw earnings tax free and no 10% penalty.
If you are over age 59-1/2 and the Roth IRA has been opened at least 5 years, then all withdrawals are tax and penalty free no matter the original source of the funds.
