Roth Contribution versus Conversion ?

[IMATERP]

In 2019 - I will be earning a negligible $6,000 in side hustle income. I was debating weather it would be more beneficial to contribute the $6,000 to my Roth OR convert 24k from my IRA to my Roth? I'm currently living off my taxable accounts and am going to start receiving a State Pension (that covers all fixed expenses) beginning Jan 1, 2021. I do not need the income for ACA purposes.

My concerns stem from having a rather large IRA - and having a monthly pension begin in two years.

My initial thought was doing some annual conversions, but since I found an enjoyable side hustle, it seems to make sense to contribute this to my Roth.

Any ideas on this?

I

 

[gauss]

All things being equal, if I were in your shoes I would do both.

 

[RunningBum]

+1. I would contribute to a Roth any year I could. You can always withdraw the contributions penalty and tax free, so there's no risk there. So I don't see how that affects Roth conversions up to your optimal income point for taxes unless you simply wouldn't have enough money to pay the taxes this year.