You'll need to sign in or create an account to connect with an expert.
On the amount you did not convert to a ROTH you will owe the penalty ... that is not an exception.
It depends on the type of plan and whether you are still employed by the plan sponsor. For a qualified workplace plan, you are exempt from the penalty if you terminated service with the employer when you were age 55 or older. If you are still employed with the plan sponsor, then the age for a withdrawal without the penalty is 59 1/2.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Esalfi
New Member
barthra
New Member
woodie2024-
New Member
hmb7064108
New Member
BenedictaIris
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.