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Retirement tax questions
Yes. If you are over age 59½, since you've met the 5-year requirement any distributions from your Roth IRA are tax and penalty free, including any new contributions.
About the only reason to contribute now if you know that you are going to take that same money out later in the same year would be on the assumption that there will be investment gains on this money in the interim that will be tax free as a result of being earned in a Roth IRA. However, if you don't know if you will be needing the funds, it's a good place to put the money until you do need it.
March 22, 2020
8:19 AM