@randsom wrote:
Before I get started on doing this and just to make sure, can you refer me to the official IRS rule on this? Thank you!
All the rules are in publication 590-b
https://www.irs.gov/pub/irs-pdf/p590b.pdf
But the bottom line is this:
Every conversion has a separate 5 year clock. However, because you pay the income tax when you perform the conversion, the only tax for withdrawing a conversion in less than 5 years is the 10% penalty for early withdrawal. And the 10% penalty NEVER APPLIES if you are over age 59-1/2, no matter what other rules or clocks might apply.
