Fermion
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I am starting to set up a Roth conversion ladder for future years when our taxable gets low or for some reason I don't want to realize gains in taxable.
Just to be sure I have this correct, here is an example.
I converted $7560 to a Roth from a IRA in Oct 2016. That account currently has grown to $128,350 (pretty good return). I can just take out the $7560 now and it is not reported for any type of tax or change to MAGI, correct? I just grab it and go if I need it?
I can't touch the remainder because that is growth.
This year I converted $8,000 to a Roth in December to meet MAGI for ACA. I can take that money out in Jan 2026 the same way? (hope it has grown to $128,000!)
I have this correct?
Just to be sure I have this correct, here is an example.
I converted $7560 to a Roth from a IRA in Oct 2016. That account currently has grown to $128,350 (pretty good return). I can just take out the $7560 now and it is not reported for any type of tax or change to MAGI, correct? I just grab it and go if I need it?
I can't touch the remainder because that is growth.
This year I converted $8,000 to a Roth in December to meet MAGI for ACA. I can take that money out in Jan 2026 the same way? (hope it has grown to $128,000!)
I have this correct?