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Roth IRA Contributions
Posted on 6/19/19 at 9:23 am
Posted on 6/19/19 at 9:23 am
hello everyone, I have searched but havent found an answer to my question so I thought I would ask here.
I know contributions to a roth IRA can generally be withdrawn without penalties or tax. My question is does this apply only to the annual $6,000 regular contributions? what about a 401k rollover or Traditional IRA conversations? would the entire 401k or TIRA balance at the time of conversion be considered contributions that could later be withdrawn tax and penalty free? Just to clarify I'm talking about early withdrawal (before 59.5). Also Im not considering raiding my 401k/ira just like knowing all my options. thanks
I know contributions to a roth IRA can generally be withdrawn without penalties or tax. My question is does this apply only to the annual $6,000 regular contributions? what about a 401k rollover or Traditional IRA conversations? would the entire 401k or TIRA balance at the time of conversion be considered contributions that could later be withdrawn tax and penalty free? Just to clarify I'm talking about early withdrawal (before 59.5). Also Im not considering raiding my 401k/ira just like knowing all my options. thanks
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