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D
dandrhunt
March 10, 2021
Question

roth IRA basis

  • March 10, 2021
  • 1 reply
  • 0 views

I converted a 401k to Roth IRA many years ago, and paid tax on the conversion that year.  Is the amount of the 401k rollover added to my Roth IRA basis?

    1 reply

    D
    dmertz
    Employee
    March 10, 2021

    Assuming that "many years ago" means more than 5 years, this is Roth IRA conversion basis from conversions more than 5 years old.  It's equivalent to Roth IRA contribution basis in that it would be distributed tax and penalty free before dipping into anything that might be subject to tax or early-distribution penalty.

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