Withdrawal of Converted Roth money after 59 1/2
I opened my first Roth in 2003. In 2010 I converted several IRA’s to Roth’s. I would like to withdrawal money from the converted Roth’s. I’m 61 years old now. From what I’ve read on the forum and on the IRS publications I should be able to withdraw the money tax and penalty free even though it has not been 5 years because of the 59 1/2 exception.
Permalink Submitted by Alan - IRA critic on Mon, 2013-03-18 02:28
Yes, that is correct. No tax or and no penalty since you are 59.5. In fact, your Roth is now fully qualified and you do not even have to use an 8606 to report the distributions.