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I have to thank you all for your knowledgeable replies. I am retired as well as my wife as we are 72 and 68 respectively. I am trying to empty my Traditional IRA as quick as possible as my wife will have RMD's in four years and our income at that time will balloon. She also will take her SS at...

Hello, I was wondering if I take a withdrawal from my Traditional IRA and have it transferred to my Roth do I have to estimate taxes due and immediately pay them? This is a Vanguard account so the transfer is easy but if I do this in January what does the IRS require. Thanks, Curt

She is not entitled to a spousal benefit as she has a California Public Employees Retirement and since her job required paying a fully funded SS there will be no offset. Curt

Thanks so much for the quick answer as it helps with tax planning. One of the reasons for putting off her SS is I am taking additional out of my self directed IRA to try to reduce it so when she hits 701/2 and must take hers the tax hit will be less. She maxed out her contributions to her IRA...

I am 71 and retired early (55) after I sold my business to help with childcare for our daughters preschool children. My wife is 67 and has not applied for SS since we do not need the income and want to max out her benefit and wait for her to turn 70. Our income comes from investments and a...