Does the 5 yr waiting period for withdrawing contributions converted from a traditional IRA to a Roth IRA only apply to the funds that were in the traditional IRA at the time of conversion?
Can you withdraw contributions which were contributed after the date of conversion to a Roth? Or are those subject to the 5-year waiting period also?
For example, I convert $5000 traditional IRA to Roth on Jan 1, 2007. Then in August 2007 I contribute $1000 to the Roth as current year contributions. Can I withdraw the $1000 at any time? I think yes, but wanted to confirm. Didn't know if any sort of allocation rule applied.
Can you withdraw contributions which were contributed after the date of conversion to a Roth? Or are those subject to the 5-year waiting period also?
For example, I convert $5000 traditional IRA to Roth on Jan 1, 2007. Then in August 2007 I contribute $1000 to the Roth as current year contributions. Can I withdraw the $1000 at any time? I think yes, but wanted to confirm. Didn't know if any sort of allocation rule applied.
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