Permalink Submitted by Anonymous (not verified) on Thu, 2009-02-19 17:53
Not unless you had a 2008 or prior year RMD that you have not taken. The 2009 RMD has been waived.
If your TIRA is large, converting too much in a single year may inflate your tax bracket to something higher than the average rate you may pay in retirement. In any event, your conversion can be partially or fully recharacterized by the extended due date if need be.
Permalink Submitted by Anonymous (not verified) on Thu, 2009-02-19 17:53
Not unless you had a 2008 or prior year RMD that you have not taken. The 2009 RMD has been waived.
If your TIRA is large, converting too much in a single year may inflate your tax bracket to something higher than the average rate you may pay in retirement. In any event, your conversion can be partially or fully recharacterized by the extended due date if need be.