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I'm in the process of constructing a conversion of traditional IRA funds
and 401K rollover IRA funds to a Roth IRA account. I know this subject
has been touched upon a number of times here, but I am having trouble
finding a good collection of information using the search feature.
Can anyone point me to a thread or detail here the sequence of steps
involved in the process. My interest is in converting the maximum
amount I can at my existing tax bracket which should be considerably
lower than prior to my wife's and my retirement. I'm planning on
doing this year after year to try and reduce the funds in the
traditional IRA's. Any tips or tricks would be appreciated.
My guess is that I need to estimate our income for the year and run
it through a tax program (would I use last year's program?) and
then see how much more income I could add before the next tax bracket
kicked in. Other questions come to mind, such as can the conversion
take place up until April 15 of the next year similar to the
contribution deadline?
__________________
Random Reinforcement is Highly Addictive.
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