IRA to Roth Conversion - another question
A question on IRA to Roth conversion when you reach 70 1/2 and have to take RMDs from the IRA.
1) can you convert IRA funds to Roth after you reach 70 1/2
2) If you want to convert more IRA money to a Roth after you reach 70 1/2, does the amount you convert have to be in addition to the RMD amount?
For example (made up numbers);
$1M in IRA. @ age 70 1/2 the rmd is 37k and have to pay taxes on that.
If I want to convert 20k that year, then do I have to take out at total of 57k (37k+20k)?
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