Hello:
You have to hold the Roth IRA for at least five years after conversion for tax free treatment:
The overall 5 year waiting period for owning a Roth IRA. You can withdraw your basis but not your earnings. However, if the withdrawal is otherwise qualified, the penalty for withdrawing earnings from a conversion is only the 10% penalty for early withdrawal, and that does not apply if you are over age 59-1/2.
See the link for further details: https://turbotax.intuit.com/tax-tips/investments-and-taxes/now-everyone-can-convert-to-a-roth/L4NEqO...
Have an amazing day. Evelyn M (CPA 20+ years)
I would love a thumbs up 🙂 + Mark the post that answers your question by clicking on "Mark as Best Answer"
