This is my favorite table: the very last entry applies here; over 59.5y.o.
and first Roth over 5 yrs old . You're "qualified" so you can withdraw anything and everything w/o tax or penalty.
Fairmark Forum :: Retirement Savings and Benefits :: Distributions from RIRA after TIRA transfer
Generally you need to know the ordering rules: contributions come out first, then conversions in order w/ oldest first (within each conversion, taxable part comes before non-taxable part), and then finally earnings. In your case, everything is fair game.
Note that there are 2 types of 5 year clocks: 1 for each conversion, another for time from opening 1st Roth. If you open 1st Roth w/ a conversion but the first Roth is not yet 5 yrs old, you can withdraw the conversions if you are over 59.5 y.o. w/o a problem but earnings are still subject to tax.
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Re: Roth IRA Rules - Table Approach
Posted by: KAWill (IP Logged)
Date: October 14, 2010 11:57PM
Roth IRA Distribution Table
UNDER AGE 59.5
FIVE YEAR CONVERSION HOLDING PERIOD NOT MET
Contributions: Tax-No; Penalty-No
Conversions: Tax-No; Penalty-Yes (Taxable Portion)
Conversions: Tax-No ;Penalty-No (Nontaxable Portion)
Earnings: Tax-Yes; Penalty-Yes
UNDER AGE 59.5
FIVE YEAR CONVERSION HOLDING PERIOD MET
Contributions: Tax-No; Penalty-No
Conversions: Tax-No; Penalty-No (Taxable Portion)
Conversions: Tax-No; Penalty-No (Nontaxable Portion)
Earnings: Tax-Yes; Penalty-Yes
OVER AGE 59.5
LESS THAN FIVE YEARS SINCE OPENING FIRST ROTH IRA
Contributions: Tax-No ;Penalty-No
Conversions: Tax-No; Penalty-No (Taxable Portion)
Conversions: Tax-No; Penalty-No (Nontaxable Portion)
Earnings: Tax-Yes; Penalty-No
OVER AGE 59.5
FIVE YEARS OR MORE SINCE OPENING FIRST ROTH IRA
All Distributions Are Qualified
No Taxes
No Penalties
Note: The table is not applicable to timely distributions of excess contributions or return of regular contributions.