Roth Conversion
Hi Terry. Happy Holidays to you and yours! My spouse is 65 and has a traditional IRA. Based on age, her RMD’s will not begin until age 75, if we choose to let it grow. We were considering using the new $6,000-$12000 BBB additional senior tax deduction the next few years to gradually roll this over to a Roth IRA for the next few years through 2028 when the new deduction is set to expire? I know we still have to pay taxes on the rollover, but thinking this might be a way to utilize the current added deduction to get a tax advantage. Your thoughts? Thank you!
Terry Says
You need specific advice about the tax implications — and the potential impact on Medicare Part B and D premiums.
Read this and use their software, or use their planners, to avoid guesswork — and an expensive mistake.
