Quote:
Originally Posted by SecondCor521
[Numbers added]
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2. No. You're over 59.5, so you can withdraw from any of your traditional IRA, Roth IRA, or 401(k) without penalties. Of course, withdrawals from traditional IRAs and traditional 401(k)s would create ordinary taxable income.
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probably won't change the answer for you but the table below show the
>59.5 y.o. rules. If your oldest Roth was opened >5 yrs ago, you are ok.
If not there are taxes due on earnings.
Re: Roth IRA Rules - Table Approach
Posted by: KAWill (IP Logged)
Date: October 14, 2010 11:57PM
Roth IRA Distribution Table
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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