Roth IRA, Traditional IRA, 401K » doing http://www.iraroth.net IRA Questions and Answers Tue, 17 Jan 2012 00:09:43 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Can you avoid 10% penalty on w/d from Traditional IRAs by doing this? http://www.iraroth.net/2010/05/can-you-avoid-10-penalty-on-wd-from-traditional-iras-by-doing-this/ http://www.iraroth.net/2010/05/can-you-avoid-10-penalty-on-wd-from-traditional-iras-by-doing-this/#comments Mon, 10 May 2010 23:11:19 +0000 admin http://www.iraroth.net/2010/05/can-you-avoid-10-penalty-on-wd-from-traditional-iras-by-doing-this/ if someone under age 59 1/2 wants to take money out of a Traditional IRA, they would have to pay a 10 % penalty and taxes. But what if they converted the Traditional IRA to a Roth IRA first? (and they can maybe convert only the amount they need). Then – as I understand Roth IRAs – there is no 10% penalty to withdraw from a Roth. Is this true?
Also, Can you w/d from a Roth anytime without incurring or do you have to wait 5 years after conversion?

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