
A. No, there are two situations your Roth IRA withdrawals are not tax-free:
- You are under age 59½
- You didn't meet the account 5-year test
First, the Tax Free Case
If you’re 59½ or older and have had at least one Roth IRA open for over five years (the five-year period for qualified withdrawals starts on January 1 of the first tax year for which you make a Roth contribution), withdrawals from any of your Roth IRAs are qualified withdrawals.
In our next blog post, we will discuss the two non-tax free cases.