Quote:
Originally Posted by VillageDawg
My financial advisor says that only the earnings have the five year requirement. The conversion contribution is available at anytime.
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The earnings taken out early are subject to a 10% early withdrawal penalty.
If you take out less than the full amount of the Roth balance the proportion of earnings to contribution and earnings is subject to the penalty.
If you made a Roth contribution on 4/18/23 for tax year 2022 the start date counts as 1/1/22 and you could take out a penalty free distribution on 1/1/27
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Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence. John Adams
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