Roth ira contributions and withdrawal

Forum|Forum|7 years ago
June 1, 2019
1 reply
10 views

I have been contributing to a Roth for many years and in 2013 I transferred amount from my Financial Institution to another. After turning 59 1/2, I withdrew in 2015 and 2016 to purchase a home (not my first). Does the amount I transferred count as contributions or will my contributions all the years before I transferred count?

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AnnetteB6

Employee Tax Expert

Transferring a Roth account from one financial institution to another does not change the character of the account. You would still count all of your previous years’ contributions as contributions. The amount moved from one financial institution to another is not considered a contribution in that sense.

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