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Old 01-09-2017, 06:22 AM   #41
Thinks s/he gets paid by the post
 
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Originally Posted by Neill View Post
I couldn't get past conversions with anything but a 0% tax rate. I go from 0% to 30% if I convert too much. I would have shielded some income in my 401k when younger at a tax rate similar to that. You can't do any better than 0% and retiring early lets you do it for more years.
I see the GOP plan has tax rates for dividends as half the income tax rate so that means the 0% rate could well be gone. Standard deduction is going to be bigger at the first tax bracket is 12%. So presumably I might be converting at 6%. I could go for that.
How do you figure converting at 6%?
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Old 01-09-2017, 09:40 AM   #42
Thinks s/he gets paid by the post
 
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Originally Posted by NW-Bound View Post
A single person gets $6,300 for the standard deduction, plus a personal exemption of $4,050. That means the first $10,350 is tax-free.

See: https://www.irs.com/articles/2016-fe...ard-deductions
Sorry thanks for correcting this, I had already adjusted for my pension and hadn't thought about that when posting.
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