Ask Terry Questions Taxes on IRA withdrawals

Taxes on IRA withdrawals

By Terry Savage on June 21, 2024 |

Hello Terry,
I’m a senior, I’m out in a higher tax bracket because if my IRA Distribution and CD’s
Is it to late to put my Ira in a Roth and is there something tax free for my C D’s. Thank you Terry.

Terry Says

No!  Just be grateful that you have enough income to have this problem. Don’t start messing around.  You would have to pay all the taxes up front if you convert to a Roth IRA, and that’s not a good idea at this stage.  Just keep your money safe and pay the taxes you owe.

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