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I am age 61 and retired. Can I convert $10,000 from a traditional IRA to a Roth IRA without penalty?

 
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Level 15

I am age 61 and retired. Can I convert $10,000 from a traditional IRA to a Roth IRA without penalty?

No penalty, but you will have to pay the normal tax on the distribution/conversion.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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Level 15

I am age 61 and retired. Can I convert $10,000 from a traditional IRA to a Roth IRA without penalty?

No penalty, but you will have to pay the normal tax on the distribution/conversion.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post