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Old 02-25-2007, 12:30 PM   #1
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If you are 62 w/social security, is there a way move from IRAS to a Roth IRA without loosing your shirt ?

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Re: Roth
Old 02-25-2007, 01:16 PM   #2
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Re: Roth

I assume you mean tax deferred IRA's to a ROTH. Kind of hard as you will have to pay the taxes due to move it to ROTH. Several are moving just enough to stay within the same tax bracket each year on an annual phased basis. You probably will move more of you SS into taxable income (up to the 85% limit) which, I think, you are getting at by your OP.

An alternative may be to just apply to the SS Administration to withdraw your SS application and repay them any benefits you have received. If you are just 62 and started the benefit it will not be a large repayment. Any repayment of benefits can be deducted as a above the line credit for the tax year you actually make the repayment. After this is done you could then be in a better tax and taxable income position to convert your TIRA to ROTH. The form you will want to use is a SSA-521 which is available from the SS site. (

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