Originally Posted by Gearhead Jim
Yes, that's what I'm thinking. But is it in fact a good idea?
Up to the top of your tax bracket only is my advice.
Meaning if you are in 25% tax bracket and married, convert a max of 131,450
Meaning if you are in 15% tax bracket and married, convert a max of 65100
The caps above are for all taxable income, after adjustments and deductions.
Example, our Gross income is about 110k, we get about 45k of deductions each year, so taxable income is 65k. We have $100 of space to convert at 15% taxes (the 101st dollar is taxed at 25%).