Contributions to a Roth IRA are:
1. Taxed at the time of contribution so
2. The account grows tax free meaning
3. Distributions are not taxed
A Roth Conversion means funds were moved from a tax deferred account (like a Traditional IRA) into the Roth IRA. The amount of the conversion
1. Is taxable as ordinary income in the year of conversion
2. There is no penalty
3. Can be done regardless of age or AGI