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palolojo
New Member

Roth ira contributions and withdrawal

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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1 Reply
AnnetteB
Intuit Alumni

Roth ira contributions and withdrawal

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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