https://ttlc.intuit.com/community/retirement/discussion/re-roth-ira-basis/01/2057784#M138741 <P>Assuming that "many years ago" means more than 5 years, this is Roth IRA conversion basis from conversions more than 5 years old.&nbsp; It's equivalent to Roth IRA contribution basis in that it would be distributed tax and penalty free before dipping into anything that might be subject to tax or early-distribution penalty.</P> Wed, 10 Mar 2021 17:35:41 GMT dmertz 2021-03-10T17:35:41Z https://ttlc.intuit.com/community/retirement/discussion/roth-ira-basis/01/2057523#M138715 <P>I converted a 401k to Roth IRA many years ago, and paid tax on the conversion that year.&nbsp; Is the amount of the 401k rollover added to my Roth IRA basis?</P> Wed, 10 Mar 2021 16:53:38 GMT https://ttlc.intuit.com/community/retirement/discussion/roth-ira-basis/01/2057523#M138715 dandrhunt 2021-03-10T16:53:38Z https://ttlc.intuit.com/community/retirement/discussion/re-roth-ira-basis/01/2057784#M138741 <P>Assuming that "many years ago" means more than 5 years, this is Roth IRA conversion basis from conversions more than 5 years old.&nbsp; It's equivalent to Roth IRA contribution basis in that it would be distributed tax and penalty free before dipping into anything that might be subject to tax or early-distribution penalty.</P> Wed, 10 Mar 2021 17:35:41 GMT https://ttlc.intuit.com/community/retirement/discussion/re-roth-ira-basis/01/2057784#M138741 dmertz 2021-03-10T17:35:41Z