Q: I’m on disability, have no earned income, and my taxable income is very low. I’m about to turn 59 1/2 and want to roll over a potion of my IRA each year at a no/low tax rate to a Roth. Do the funds need to stay in the Roth for 5 years before withdrawing without penalty?
A: Thanks for your question. I believe as long as you already have had a Roth established for 5 years or more you are able to withdraw the contributions even if they were just made. However, the rules do get a bit sticky with Roth’s so I definitely would run this by your CPA first.