ROTH CONVERSION
Listening to one of talk on ed slott site. saying 3 year plan to convert and charity break. if i am on max bracket now and drawing RMD how taking more money out pay tax from IRA money to convert to ROTH will benefit me or my children.
Permalink Submitted by Alan - IRA critic on Fri, 2024-03-01 18:25
It will benefit you if your tax rates go up in the future, but if your children will be in a lower bracket, it will not benefit them as much as inheriting a higher TIRA balance at their lower tax rates. If you are doing QCDs, you should leave enough in your TIRA to utilize the QCD advantage so that the entire QCD amount reduces your RMD income.