Is it still beneficial for us to keep making Roth conversions?
Most of our investments are already converted to Roth accounts, but we still have about $230000.- in my husband’s traditional IRA. This is after converting 50,000 earlier this month.
Our combined Social Security income is about 56,000 per year. We have six years left before having to take MRD.
At what point is it more cost-efficient to pay the taxes on the MRD rather than paying taxes on the conversions?
Is there a formula or web page where I can plug in the numbers to see the different results?
Thank You
Most of our investments are already converted to Roth accounts, but we still have about $230000.- in my husband’s traditional IRA. This is after converting 50,000 earlier this month.
Our combined Social Security income is about 56,000 per year. We have six years left before having to take MRD.
At what point is it more cost-efficient to pay the taxes on the MRD rather than paying taxes on the conversions?
Is there a formula or web page where I can plug in the numbers to see the different results?
Thank You
Statistics: Posted by heikejohn1 — Mon Jan 22, 2024 6:52 pm — Replies 3 — Views 203