Jun 3, 2021 #1 mitchjav Recycles dryer sheets Joined Sep 5, 2018 Messages 140 Location Belle Mead When doing ROTH conversion - how best to handle taxes...take additional withdrawal to cover taxes? Or pay taxes from other non-IRA funds? Thank You
When doing ROTH conversion - how best to handle taxes...take additional withdrawal to cover taxes? Or pay taxes from other non-IRA funds? Thank You
Jun 3, 2021 #2 pb4uski Give me a museum and I'll fill it. (Picasso) Give me a forum ... Joined Nov 12, 2010 Messages 36,454 Location Sarasota, FL & Vermont Pay taxes from non-IRA funds.... it effectively gets the non-IRA funds equal to the taxes in the Roth where it can grow tax free.
Pay taxes from non-IRA funds.... it effectively gets the non-IRA funds equal to the taxes in the Roth where it can grow tax free.
Jun 3, 2021 #3 RunningBum Give me a museum and I'll fill it. (Picasso) Give me a forum ... Joined Jun 18, 2007 Messages 13,256 +1. A no-brainer if you can do it.
Jun 3, 2021 #4 B bingybear Thinks s/he gets paid by the post Joined Dec 13, 2014 Messages 2,511 it can be more complicated in general terms. If you have a non 0 basis in your IRA. But most people don't have a none 0 tax basis. The real question is does it make sense to do roth conversions. In my case I did a fair amount of roth conversions.
it can be more complicated in general terms. If you have a non 0 basis in your IRA. But most people don't have a none 0 tax basis. The real question is does it make sense to do roth conversions. In my case I did a fair amount of roth conversions.
Jun 4, 2021 #5 teetee Full time employment: Posting here. Joined Jul 11, 2019 Messages 679 Just by no RMD alone I think Roth IRA is more attractive than tIRA. Just convert them during low income years or in semi RE window when the projected income is low.
Just by no RMD alone I think Roth IRA is more attractive than tIRA. Just convert them during low income years or in semi RE window when the projected income is low.