Getting Conflicting Information Re: ROTH IRA account

If my arithmetic is right, you could have started taking it out as qualified distributions after you turned age 59 1/2 in 2004. This answer assumes you have not created a separate five year period for a Roth IRA conversion after 2003.

Now.

Once you were both (a) 59.5 years old and (b) had a Roth IRA account for at least five years, all Roth withdrawals are qualified and no penalties early withdrawal or conversion penalties apply.

-- Rich Carreiro snipped-for-privacy@rlcarr.com

Can you withdraw your contribution/principal any time without penalty?

Also, publication 590 lists cases where you can withdraw before age

59.5 without penalty?

That separate 5 year period for conversions is pertinent only when the premature distribution penalty is in play. Since OP is over 59 1/2, it's moot.

All distributions from OP's Roth will be "qualified," thus zero tax or penalty.

I was going to convert my '07 $5K after tax IRA to my ROTH account but decided it will complicate my ROTH account too much.

Tom

Say I deposit $5K in that ROTH account in '08 when can I withdraw profits from that $5K w/o penalty?

Tom

========================================= MODERATOR'S COMMENT: Since OP is 63, a Roth distribution is without penalty.

The next day. This is the same answer you've been given at least three times. Instead of just asking it over and over, sit down with Publication

590 and verify. It's remarkedly straightforward when you're over 59 1/2 and have had a Roth for 5 years, but if there's something you don't understand, come back with a specific reference and explanation of what's troubling you.

I read in an online ROTH\IRA link the clock starts ticking again when the $5K is added to the ROTH. I'll read the publication again.

========================================= MODERATOR'S COMMENT: The five-year conversion clock is moot since, as noted above, taxpayer is 59 1/2.