You Asked Us -Roth IRA Distributions

Q. Can Roth IRA contributions be withdrawn without tax and/or penalty?

Q. I am 62 years of age. I have had a regular Roth IRA for over five years. I have just rolled over my 403(b) into a Rollover IRA (I was told I could even though I am still employed). I am planning to convert a portion of this Rollover IRA into the Roth IRA. If I convert the Rollover IRA to the Roth, do I still have to wait for five years before taking distributions from the converted Roth to avoid a 10% tax penalty? I am over 59½ at the time of this partial conversion. Click here for the answer

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