https://ttlc.intuit.com/community/retirement/discussion/re-roth-conversion-and-distribution-in-the-same-year/01/3709001#M252736 <P>If you are under age 59-1/2, you will pay the regular income tax on the conversion, and a 10% penalty for early withdrawal. &nbsp;If you also withdraw earnings (increase in value in the Roth) that is also subject to regular income tax plus a 10% penalty.</P> <P>&nbsp;</P> <P>If you are over age 59-1/2, you pay income tax on the conversion per the normal rules, but you don't pay an additional penalty for early withdrawal. &nbsp;If you withdraw earnings, and the Roth IRA has been open less than 5 years, the earnings are taxable (but without the 10% penalty).&nbsp;</P> Wed, 22 Oct 2025 21:27:55 GMT Opus 17 2025-10-22T21:27:55Z https://ttlc.intuit.com/community/retirement/discussion/roth-conversion-and-distribution-in-the-same-year/01/3708972#M252735 <P>What happens if you make a Roth conversion early in the year, but have to withdraw that amount later in the year for an emergency?</P> Wed, 22 Oct 2025 20:53:25 GMT https://ttlc.intuit.com/community/retirement/discussion/roth-conversion-and-distribution-in-the-same-year/01/3708972#M252735 user17610862872 2025-10-22T20:53:25Z https://ttlc.intuit.com/community/retirement/discussion/re-roth-conversion-and-distribution-in-the-same-year/01/3709001#M252736 <P>If you are under age 59-1/2, you will pay the regular income tax on the conversion, and a 10% penalty for early withdrawal. &nbsp;If you also withdraw earnings (increase in value in the Roth) that is also subject to regular income tax plus a 10% penalty.</P> <P>&nbsp;</P> <P>If you are over age 59-1/2, you pay income tax on the conversion per the normal rules, but you don't pay an additional penalty for early withdrawal. &nbsp;If you withdraw earnings, and the Roth IRA has been open less than 5 years, the earnings are taxable (but without the 10% penalty).&nbsp;</P> Wed, 22 Oct 2025 21:27:55 GMT https://ttlc.intuit.com/community/retirement/discussion/re-roth-conversion-and-distribution-in-the-same-year/01/3709001#M252736 Opus 17 2025-10-22T21:27:55Z https://ttlc.intuit.com/community/retirement/discussion/re-roth-conversion-and-distribution-in-the-same-year/01/3709017#M252737 <P>I thought I read somewhere it was like it never happened. It is treated like just a distribution from the IRA instead of a conversion.&nbsp;</P> Wed, 22 Oct 2025 21:53:13 GMT https://ttlc.intuit.com/community/retirement/discussion/re-roth-conversion-and-distribution-in-the-same-year/01/3709017#M252737 user17610862872 2025-10-22T21:53:13Z