Rosh IRA Question

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Topic Author
Always passive
Posts: 1272
Joined: Fri Apr 14, 2017 4:25 am
Location: Israel

Rosh IRA Question

Post by Always passive »

I am 76 years old and retired.
have 100k in 2030-2031 individual bonds yielding about 4.5%.
Can I move them as is into a Roth IRA?
Although I am almost sure that I do need the money, what happens if I have to withdraw before year 5?
Thank you for your help
exodusNH
Posts: 10758
Joined: Wed Jan 06, 2021 7:21 pm

Re: Rosh IRA Question

Post by exodusNH »

Always passive wrote: Tue May 14, 2024 9:59 pm I am 76 years old and retired.
have 100k in 2030-2031 individual bonds yielding about 4.5%.
Can I move them as is into a Roth IRA?
Although I am almost sure that I do need the money, what happens if I have to withdraw before year 5?
Thank you for your help
Are they in an IRA already? Then you could Roth convert them, which will be a taxable event.

If they're not already in an IRA or other retirement account, you need wage income in order to make IRA contributions.
Topic Author
Always passive
Posts: 1272
Joined: Fri Apr 14, 2017 4:25 am
Location: Israel

Re: Rosh IRA Question

Post by Always passive »

Most of the moneys came from a regular IRA in Dec 23 during my last required withdrawal.
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FiveK
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Re: Rosh IRA Question

Post by FiveK »

Always passive wrote: Wed May 15, 2024 12:07 am Most of the moneys came from a regular IRA in Dec 23 during my last required withdrawal.
If they "came from" a regular IRA that suggests they are now in a taxable account. You can't do a Roth conversion from taxable to Roth.

You also can't convert RMDs to Roth.
Topic Author
Always passive
Posts: 1272
Joined: Fri Apr 14, 2017 4:25 am
Location: Israel

Re: Rosh IRA Question

Post by Always passive »

Thank you
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