fourwaystreet
Dryer sheet wannabe
My plan is to do a Roth conversion to the top of the present 12% tax bracket that I foresee the DW and I being in until and if actual tax rates change. My understanding is that I use the figure that our adjusted gross income (after the 24,400 standard deduction) to determine how much is to convert? Is this correct?
A simple example if adjusted gross income after the standard deduction is 50,000 does that leave me 28,000 that I can convert and stay entirely in the 12% bracket?
Thank you in advance!
A simple example if adjusted gross income after the standard deduction is 50,000 does that leave me 28,000 that I can convert and stay entirely in the 12% bracket?
Thank you in advance!