It is ok if you wish to do it, but why? You would have to take a distribution from the Roth which may or may not incur income tax. You can always distribute the original contributions you made to your Roth IRA – it was your money to start with and you had already paid the income tax. However the gains inside your Roth may be taxed if you have not satisfied the Roth thresholds. A Roth IRA must be seasoned for five years and the IRA owner has to be over the age of 59 ½.
You would also have to substantiate “earned income” equal to the amount you wish to contribute to the IRA, not the Roth distribution.
A further review of the ROTH benefits would be a good idea. You have already paid the tax on the Roth contributions and if you follow the Roth rules, future distributions should be tax free.
Contact us or call us at (866)639-0066 and we can discuss the potentials a Roth IRA offers.