I am sorry to ask something that gets discussed so much but sometimes reading people's explanations leaves unanswered questions and I thought it may be easier for me to just ask my specific question with real numbers.
So, as it stands I have approximately $30,000 sitting in a Traditional IRA, This money is there due to me moving a 403b about 3 years ago. Given there has been some time there some of that amount is of course earnings and not just contributions.
Let's assume I move ALL $30,000 over to a Roth NOW. After 5 years, is that entire $30,000 amount seasoned and withdraw-able (obviously not any new earnings it has been making in the Roth), or is it only possible to withdraw the original contributions even though those were made years ago when it was still in a 403b?
Also, do conversions count towards any contribution limits that are set? Or can I still contribute full $6,000 a year to my traditional, regardless of any rollovers?
Thanks, hope those questions make sense. They are probably dumb but the specifics were nagging me because I am trying to decide what to do with my current IRA funds
Thanks