Reply To: Question Regarding Five Year Rule for Roth IRA Withdrawals -Alan S. Please Help!

Home Fairmark Forum Retirement Savings and Benefits Question Regarding Five Year Rule for Roth IRA Withdrawals -Alan S. Please Help! Reply To: Question Regarding Five Year Rule for Roth IRA Withdrawals -Alan S. Please Help!

#1407
ChesterHaines
Participant

You are correct, I misread your Roth 401k contribution amount to be 58,923 when it clearly is 48,125, which should be shown in Box 5 of your H coded 1099R for the direct rollover. Therefore, the 102,561 is correct for your Roth tax and penalty free distributions. And your regular contribution basis in your Roth IRA is 53,125. Sorry for the error.

I assumed the supplemental amount is an additional co match of some kind, was taxed when you rolled it over to a Roth IRA, and is therefore included in your Roth IRA conversion basis now.

Sorry for the error.

Thanks to both the participants, I had a similar (almost) query and this discussion has cleared my doubts.