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ROTH Conversion
Old 11-25-2018, 01:10 PM   #1
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ROTH Conversion

Can I do a 401k to 401k ROTH conversion this year, '18 even though I maxed my traditional ROTH contributions in January '18.
I retired in April '18 at 58. I would like to do ~100K a year for the next view years to reduce my RMD's in the future and impact on SS impact.
I believe there is no real limit on a conversion but it never brings in the existence of a traditional ROTH in into the equation during the year of retirement.
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Old 11-25-2018, 01:16 PM   #2
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Yes. It will create unearned ordinary income, so you will very likely have to pay federal and state income taxes on the converted amount.

See Form 8606 on the IRS website.
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Old 11-25-2018, 01:38 PM   #3
Confused about dryer sheets
 
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Thanks,
That was fast, the taxes are why I'm doing this over a few years.
The wife is still working until she is 55 maybe sooner due to health issues.
Learning more about her medical options is in the works.
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