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Retirement tax questions
You said, "I meet the age requirement." If by that you meant that you are over age 59½, 5-year conversion clocks no longer apply since 5-year conversion clocks are only used to determine whether or not a 10% recapture penalty applies; there is no recapture or early-distribution penalty after age 59½.
Being age 59½ and having been more than 5 years since the beginning of the year for which you first made a Roth IRA contribution (which can also be a conversion contribution) means that any regular distribution is a qualified distribution, tax- and penalty-free.
March 25, 2020
2:23 PM
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