Roth rollover distribution from traditional IRA

[kpangelinan]

Client is rolling a traditional IRA into a Roth and paying taxes on the conversion.

Is the Roth basis now treated like the client's contribution for non-qualified withdrawals (i.e. can be withdrawn penalty free), or will the client still have to pay a 10% penalty on non-qualified withdrawals since it came from a Trad IRA?

And are there time limits?

Thanks,

[appelman]

You won't be taxed again on the same money.

See also "Ordering Rules for Distributions" on p. 66 of Pub. 590.

[kpangelinan]

Thank you...

See also "Ordering Rules for Distributions" on p. 66 of Pub. 590.

Page 63-66 are great....thanks for the reference.