@fanfare wrote:
Once your Roth IRA has existed for more than five years, there is no issue with basis.
Any withdrawal is tax-free.
@marciamneal
Incorrect. If the taxpayer is under age 59-1/2, withdrawal of earnings is subject to income tax plus a 10% penalty, and withdrawal of conversion amounts is subject to a 10% penalty if it is less than 5 years since the date of the conversion (each conversion has a separate 5 year clock that is different from the general 5 year clock).
