Roth IRA Withdrawl after 59 1/2

Forum|Forum|5 years ago
July 14, 2021
1 reply
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I want to roll over a significant amount of after tax money in my old 401K into a ROTH IRA that I have had for 10 years. The ROTH currently only has about $10K and I will be adding $100K after tax money (not current ROTH) from the 401K. QUESTION: can I withdraw more than $10K, including any gains, before a 5 year waiting period tax free?

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Best answer by macuser_22

@kkettner wrote:

I want to roll over a significant amount of after tax money in my old 401K into a ROTH IRA that I have had for 10 years. The ROTH currently only has about $10K and I will be adding $100K after tax money (not current ROTH) from the 401K. QUESTION: can I withdraw more than $10K, including any gains, before a 5 year waiting period tax free?

Your Roth has already met the 5 year rule. Only conversions have a new 5 year period - rollovers do not. As long as you are not converting before tax 401(k) money to the Roth, it is simply a rollover of after-tax money from one account to another.

macuser_22

Answer

Alumni - Champ

@kkettner wrote:

I want to roll over a significant amount of after tax money in my old 401K into a ROTH IRA that I have had for 10 years. The ROTH currently only has about $10K and I will be adding $100K after tax money (not current ROTH) from the 401K. QUESTION: can I withdraw more than $10K, including any gains, before a 5 year waiting period tax free?

**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.**