Badger
Thinks s/he gets paid by the post
- Joined
- Nov 2, 2008
- Messages
- 3,424
Once you reach 70 1/2 and have to take RMD can you still make conversions to a Roth IRA?
With our combined pensions, SS, and dividends from taxable accounts I estimate that once we turn 70 1/2 the resulting addition of RMD will put us in the 25% tax bracket with more income than we need for our living expenses. Instead of taking the distribution and putting the money in a taxable account is it possible to use the RMD for a conversion to a Roth instead? Or would that not be considered taking the RMD?
I guess that is two questions. If the second question is not possible then any suggestions for how to deal with that situation are welcome.
Cheers!
With our combined pensions, SS, and dividends from taxable accounts I estimate that once we turn 70 1/2 the resulting addition of RMD will put us in the 25% tax bracket with more income than we need for our living expenses. Instead of taking the distribution and putting the money in a taxable account is it possible to use the RMD for a conversion to a Roth instead? Or would that not be considered taking the RMD?
I guess that is two questions. If the second question is not possible then any suggestions for how to deal with that situation are welcome.
Cheers!