I have a Roth IRA that took its initial contribution as a rollover from a 401k I had with a previous employer. Since the old 401k's contributions were tax-free I ended up paying income tax on the rollover amount, but no penalties; that was in 2014.
Currently I have a mix of my own contributions along with this rollover and I plan to use the Roth IRA as a saving vehicle that I will eventually use to cash purchase a piece of land or fixer-upper property.
Can I withdraw the rollover amount along with my own contributed principal tax and penalty free? I think I read that I have to wait 5 years from when the rollover occured, so will I have to wait until 2019 to use the rollover principal penalty free (or is it 2020)? I am currently fairly young and won't be anywhere near retirement age in 2020.
I am not talking about touching the growth, just the principal that has already had income tax paid on it. This is in Arizona if that makes any difference, but in a few years we may also be considering a move to Washington State.