topic Roth IRA 5 Year Timing in Get your taxes done using TurboTax

Roth IRA 5 Year Timing

GaryBr2 — Wed, 05 Feb 2025 19:14:50 GMT

We recently moved our Roth IRA to another investment firm from the one where we opened it. Does the 5-year clock start from when we initially opened the account or when the new firm took ownership?

Thanks,

Gary

Re: Roth IRA 5 Year Timing

MinhT1 — Wed, 05 Feb 2025 19:31:31 GMT

No, transferring your Roth IRA to a different broker does not reset the 5-year holding period; the 5-year clock starts when you make your first contribution to any Roth IRA, and it applies to all your Roth IRAs, meaning a transfer between accounts does not restart the waiting period.

Re: Roth IRA 5 Year Timing

GaryBr2 — Sat, 08 Feb 2025 17:39:40 GMT

Thanks, that clears it up.