Roth conversion before taking rmd
I want to convert poor-performing stocks to my Roth. Have yet to take rmd. have enough money to do both. does this mess up the first-out rule?
I want to convert poor-performing stocks to my Roth. Have yet to take rmd. have enough money to do both. does this mess up the first-out rule?
Permalink Submitted by Alan - IRA critic on Tue, 2024-06-18 23:03
You must complete your RMDs for all your IRAs before converting from any of them because the first dollars distributed in an RMD year must be applied to the RMD and an RMD cannot be rolled over to another IRA. A conversion is treated as a rollover.