TromboneAl
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 30, 2006
- Messages
- 12,880
Because our income is very low, and because we'll get a $1,400 Lifetime Learning tax credit for DD's college expenses, I calculated (thanks RiskAdverse) that we can convert $33,000 to a Roth and still pay no federal taxes. We will have to pay California income tax. This is what I plan to do.
We could in fact convert over $75,000 and still be in the 15% tax bracket.
Does that sound right -- anything I'm missing?
Is that an unusually large amount to convert (sending red flags)?
Should I actually be converting more?
Thanks,
We could in fact convert over $75,000 and still be in the 15% tax bracket.
Does that sound right -- anything I'm missing?
Is that an unusually large amount to convert (sending red flags)?
Should I actually be converting more?
Thanks,