RMD ago a Roth
Hi Terry
If I take my RMD approximately $25000 with hold $5000 for taxes can I open a Roth IRA with the balance?
Regards
Terry Says
Only if you have earned income this year. And depending on your age, you can only contribute $7,000 for those under age 50 and $8,000 for those age 50 or older in 2024.
So that will leave you with some extra money.
Make sure you withhold enough money for taxes!
