qbteachmt
Level 15

"Each conversion has its own five-year period, but IRS rules stipulate the oldest conversions are withdrawn first. The order of withdrawals for Roth IRAs are contributions first, followed by conversions, and then earnings."

"Exceptions to the 5-Year Rule

Under certain conditions, you may withdraw earnings without meeting the five-year rule, regardless of your age. You may use up to $10,000 to pay for your first home or use the money to pay for higher education for yourself or for a spouse, child, or grandchild."

https://www.investopedia.com/ask/answers/05/waitingperiodroth.asp

https://www.investopedia.com/terms/f/fiveyearrule.asp

https://www.investopedia.com/terms/o/orderingrules.asp

 

All of which is moot if the taxpayer characterizes this as covid disaster qualified, which is good up to $100k. Read the Form 8915-E instructions.

*******************************
"Level Up" is a gaming function, not a real life function.