He Converted $120,000 to a Roth at 63 to Get Ahead of the RMDs. Medicare Later Read It as Income and Charged Him $2,400 More in Year One.
Source ↗
👁 0
💬 0
The post He Converted $120,000 to a Roth at 63 to Get Ahead of the RMDs. Medicare Later Read It as Income and Charged Him $2,400 More in Year One. appeared first on 24/7 Wall St..
A retiree we’ll call Bob turned 63 in 2024. He decided now was a good time to run the numbers on his traditional IRA and found the smart move was to convert $120,000 to a Roth before required minimum distributions (RMDs) came knocking. Bob’s CPA blessed his plan. The ax bill that April was steep but managea
A retiree we’ll call Bob turned 63 in 2024. He decided now was a good time to run the numbers on his traditional IRA and found the smart move was to convert $120,000 to a Roth before required minimum distributions (RMDs) came knocking. Bob’s CPA blessed his plan. The ax bill that April was steep but managea
Comments (0)