pjb
Dec 11 2001, 12:48 PM
Can you convert a traditional IRA to a Roth and begin taking basis withdrawals without being subject to the 10% early w/d penalty?
BPickerCPA
Dec 11 2001, 07:58 PM
Not if you're under 59½ when you take the withdrawal.
pjb
Dec 12 2001, 09:15 AM
I thought the 10% w/d penalty is only on the earnings portion of distribution from roth accounts.
BPickerCPA
Dec 12 2001, 05:08 PM
You thought wrong. Converted money can't be withdrawn for five years or until 59½, whichever first occurs.
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