IRA TO ROTH
I am in highest tax bracket and will not change . taking RMD beacuse required to what criteria to convert to ROTH or leave IRA to kids or grandkids
I am in highest tax bracket and will not change . taking RMD beacuse required to what criteria to convert to ROTH or leave IRA to kids or grandkids
Permalink Submitted by Alan - IRA critic on Mon, 2024-03-04 21:29
You must complete your RMD for all your IRAs before you can convert additional amounts. But if you are in the top bracket you will pay more tax on the conversions than the beneficiaries would if they inherited a TIRA instead of a Roth IRA. So they either inherit more and will have to pay taxes, or inherit less if they inherit a qualified Roth IRA and do not have to pay taxes.