Friday, January 22, 2010 2:42:50 PM
That 5-year clock is only set once-- on the date you first open the Roth IRA--in my case the very first year (1997) they were available. So it doesn't make any dffernce that I only converted my two biotechs in the Fall of 2009--when I reach 59 1/2 in a couple years anything I withdraw from there will be tax-free.
Again, as the IRS site I linked to says, It's the length of time your Roth has been opened not how long ago anything was converted.
Now if you're talking about just starting a Roth today and converting from a regular IRA today, then it's going to take 5 years until your wirthdrawals are taxfree--I know it might be four depending if you start the Roth before April 15 and you get to count it like you started it in 2009
Recent ERHE News
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/06/2024 07:31:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/08/2023 09:06:42 PM
FEATURED ZenaTech, Inc. (NASDAQ: ZENA) Launchs IQ Nano Drone for Commercial Indoor Use • Oct 10, 2024 8:09 AM
FEATURED CBD Life Sciences Inc. (CBDL) Targets Alibaba as the Next Retail Giant for Wholesale Expansion of Top-Selling CBD Products • Oct 10, 2024 8:00 AM
FEATURED Element79 Gold Corp. Reports Significant Progress in Community Relations and Development Efforts in Chachas, Peru • Oct 9, 2024 10:30 AM
Foremost Lithium Announces Option Agreement with Denison on 10 Uranium Projects Spanning over 330,000 Acres in the Athabasca Basin, Saskatchewan • FAT • Oct 10, 2024 5:51 AM
Unitronix Corp Launches Share Buyback Initiative • UTRX • Oct 9, 2024 9:10 AM
BASANITE INDUSTRIES, LLC RECEIVES U.S. PATENT FOR ITS BASAFLEX™ BASALT FIBER COMPOSITE REBAR AND METHOD OF MANUFACTURING • BASA • Oct 9, 2024 7:30 AM