Hello heyyou,Having ended my high, 4 digit Roth conversions when I started my SS at 70, I'm now considering restarting them.You might consider converting until just below the level that would give you a modified adjusted gross income (MAGI) of $250K, which is the threshold for net investment income tax (NIIT).
Yes, there is longevity in my family history.
Age 74 this year, now filing single with no-COLA pension of 40,782 and 45,240 of Social Security, an annual total of $86,022.
The above is adequate income for my current expenses with my paid off, retirement-size residence in a somewhat lower cost area.
tIRA of 316,964, easily rounded to 317,000
I don't mind paying the small extra tax on whatever my taxable interest and dividend income happens to be this year.
Should I proceed with annual Roth conversions and what is an approximate amount?
What is the AA of your TIRA?
Statistics: Posted by rossington — Wed Nov 27, 2024 5:32 am — Replies 5 — Views 668