I am 70 years old. I have a Roth IRA that I made contributions and rolled over amounts from my traditional IRA. Can I withdraw any amount without tax or penalty?

If I read the IRS rules correctly since I meet the 59 1/2 years old and the 5 year since inception (Roth IRA opened in 1999) rules, I should be able to withdraw any amount, including the amount I rolled over in 2016, and any earnings thereon without tax or penalty. Is that correct? If not, what am I missing?

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1 Best answer

Level 15

Jun 4, 2019 3:20:30 PM

Yes. That is correct. I assume by "rolled over amounts from my traditional IRA", you mean you converted those amounts, from traditional to Roth.

Level 15

Jun 4, 2019 3:20:30 PM

Yes. That is correct. I assume by "rolled over amounts from my traditional IRA", you mean you converted those amounts, from traditional to Roth.

New Member

Jun 4, 2019 3:20:31 PM

Yes, the roll overs are from traditional to Roth (form 8606).

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I am 70 years old. I have a Roth IRA that I made contributions and rolled over amounts from my traditional IRA. Can I withdraw any amount without tax or penalty?