RMD and ROTH
Is it possible to rollover the RMD after taxes are taken out into an existing ROTH? If so, do the usual requirements on income still hold or is it independent of income?
Terry Says
Wait, what? You invest in a Roth IRA with after-tax dollars. l You only have an RMD from a TRADITIONAL, pre-tax IRA.
If you are asking whether your RMD money that is required to be withdrawn each year from your traditional IRA can then be put into a ROTH IRA, the answer is “only up to the amount of earnings from work” (not interest and not the RMD). If you are at the age for RMDs, you can contribute up to $7,000 — IF you have that much in earned income. And your MAGA (modified adjusted gross income must be under $140,000 on a single return, or $206,000 on a joint return in order to be allowed to contribute to a Roth IRA.
