Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 05-04-2021, 05:47 PM   #21
Full time employment: Posting here.
Al in Ohio's Avatar
 
Join Date: Jun 2013
Location: Columbus
Posts: 956
Quote:
Originally Posted by packrat44 View Post
What are your thoughts about converting all/majority of a person's Tradional IRA over to a ROTH IRA if you expect to be in a higher tax bracket in future years? :confused:


Do you plan to leave any portion as an inheritance? If so, gifting that with the step up in basis rule would be where you could use tIRA funds and not bother to convert.
__________________
Ohio INTJ ENG ER as of 2016
Al in Ohio is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-04-2021, 05:50 PM   #22
Full time employment: Posting here.
Al in Ohio's Avatar
 
Join Date: Jun 2013
Location: Columbus
Posts: 956
Overall I plan to convert some so my ratio of tax free to tax deferred gets closer to 50/50, but it will probably be more like 1/3 tax free 2/3 deferred.
__________________
Ohio INTJ ENG ER as of 2016
Al in Ohio is offline   Reply With Quote
Old 05-04-2021, 06:02 PM   #23
Thinks s/he gets paid by the post
Dash man's Avatar
 
Join Date: Mar 2013
Location: Limerick
Posts: 3,209
Quote:
Originally Posted by Al in Ohio View Post
Do you plan to leave any portion as an inheritance? If so, gifting that with the step up in basis rule would be where you could use tIRA funds and not bother to convert.

Step up in basis has nothing to do with IRAs. A traditional IRA that is inherited still has taxes paid when withdrawn at the beneficiaries tax rate.

Step up in basis refers to taxable brokerage accounts or real estate that are inherited being allowed to reset the basis to the value on the date of death.
There are discussions in Washington to eliminate the step up in basis.
Dash man is offline   Reply With Quote
Old 05-04-2021, 06:08 PM   #24
Dryer sheet aficionado
 
Join Date: Sep 2016
Location: Rain City
Posts: 41
Quote:
Originally Posted by Al in Ohio View Post
Do you plan to leave any portion as an inheritance? If so, gifting that with the step up in basis rule would be where you could use tIRA funds and not bother to convert.
Al - After 14 years, I don't think the OP is listening .
obsessed is online now   Reply With Quote
Reply

Tags
ira


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Need advice: traditional 403(b) vs. Roth 403(b) vs. Roth IRA vs. taxable account Silhan FIRE and Money 12 06-07-2007 10:08 AM
Traditional IRA to Roth Conversion Question Dog FIRE and Money 5 03-10-2007 10:53 PM
Conversion of Traditional IRA to Roth Steps. riskadverse FIRE and Money 6 10-08-2006 08:44 AM
Not eligible for Roth IRA - conversion? Lusitan FIRE and Money 9 02-23-2006 11:00 AM
Traditional IRA to ROTH conversion charlie FIRE and Money 8 02-13-2006 06:52 PM

» Quick Links

 
All times are GMT -6. The time now is 02:30 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.