Roth Ira

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  • TAX4US
    Senior Member
    • Mar 2010
    • 551

    #1

    Roth Ira

    Someone check me on this. TP age 70 started Roth IRA 7-01-2009. I believe TP can start wd from RothIRA beginning Jan 2014. I don't think he has to wait till 07-02-2014. Right or wrong. Head is a little fuzzy. Manny thanks.
  • Roland Slugg
    Senior Member
    • Aug 2006
    • 1860

    #2
    You are correct. You count the entire year the T/P made his first contribution to a Roth IRA, so your guy was eligible to w/d tax and penalty free beginning on January 1, 2014.

    There is a nice flowchart about Roth IRA distributions on page 32 of IRS Pub 590-B.
    Roland Slugg
    "I do what I can."

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