partial conversion and RMDs
Client is 70 1/2 in 2010. He wants to convert a small portion ($45,000) of his IRA to a Roth now, while taking his RMD ($144,000) for 2010 at $12,000 per month. Can he do so, or is the rule that RMDs must be taken first?
Client is 70 1/2 in 2010. He wants to convert a small portion ($45,000) of his IRA to a Roth now, while taking his RMD ($144,000) for 2010 at $12,000 per month. Can he do so, or is the rule that RMDs must be taken first?
Permalink Submitted by mk foss on Tue, 2010-01-05 21:35
It is the rule that the first withdrawals of every year are the RMDs which cannot be rolled over or converted to a Roth.