Roth conversion to an existing Roth

Forum|Forum|7 days ago
June 2, 2026
3 replies
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I am 75 years old. I’ve had a Roth for many years with a present value of over 150,000 consisting of dividend paying ETFs, I have an IRA with Stock ETFs valued at about 20,000. I want to do a Roth conversion from my IRA to my Roth of about 10,000 dollars in dividend paying ETF shares. I know I will get a 10-99 for my conversion for which I will add to taxable income. Shortly after the conversion, I intend to withdraw 1,000 dollars of total dividends per month from my Roth. Other than the 10-99 tax for the conversion are my Roth distributions tax free? Or does the 5 year rule somehow complicate my analysis?

TurboTax Online

Bsch4477

Level 15

See excellent reply by

dmertz

Level 15

After age 59½, there is no 5-year Roth conversion clock. The Roth IRA that you had for more than 5 years (satisfying the 5-year Roth IRA qualification clock) together with your age being above 59½ means that any distribution that you make from any of your Roth IRAs is a qualified distribution, free of any tax or penalty.

Although the Form 1099-R for any distributions from Roth IRAs might have code T, indicating to TurboTax that you had a Roth IRA for more than 5-years, combined with the fact that you are over age 59½, causes TurboTax to treat code T the same as code Q.

Even if the converted funds were deposited into a different Roth IRA, the result would be the same. For tax purposes, all of your own Roth IRAs are treated as one combined Roth IRA.