Roth IRA Conversion
I am in the process of transfer my tradition IRA to a Roth IRA I am 64 years old I been retired since 2010. I in a 22% tax bracket as of 2020 tax year. Last year my Taxable income was
$31,636. I have a stock in my IRA account GBTC Greyscale that invests in Bitcoin Crypto. I have
1,500 shares now value at $66,345. How much of this should I convert to a Roth IRA ?
Yours Truly Kevin Madison 11/29/2021
Permalink Submitted by Alan - IRA critic on Mon, 2021-11-29 22:05
Your marginal rate in 2021 compared to your marginal rate later in retirement determines how much you should convert. If you were in the 22% bracket in 2020, then 2021 is likely the year your taxable income is much lower, and if you think that 2021 taxable income is low compared to future years, it is probably a good opportunity to convert more this year. With respect to Crypto, which is a high risk, high reward investment, you need to decide how much of your conversion will consist of the Crypto and how much in other investments.