I'm Over 72 yrs old. Can I Convert IRA Funds to a Roth IRA and Have It Count As Minimum Distribution? - ira minimum distribution
I am compelled to take some money from my traditional IRA, because I about 70 1 / 2 years.
Can you convert "money from my traditional IRA and a Roth IRA counted as part of the required minimum distribution?
Saturday, January 16, 2010
Ira Minimum Distribution I'm Over 72 Yrs Old. Can I Convert IRA Funds To A Roth IRA And Have It Count As Minimum Distribution?
4 comments:
Yes, but not stupid, unless they can make a huge difference for him in a very short time. You pay taxes on time, your IRA, and the need to leave posts, I think that for at least 5 years.
It might be better placed in a Coverdell ESA for the grandchildren or great-grandchildren.
Yes, you can take your required minimum distribution from your traditional IRA to a Roth said, if they have earned income in height. Interest income is not considered as earned and dividends, pensions and the distribution of the IRA itself, while all are subject to performance tests. Roth accounts are designed for employees.
If you work part time, you are entitled. But the only advantage would be to earn money tax-free profit for you. There is no deductible with Roth.
Realistically, yes, but it is the best way to apply to a minimum distribution in cash. There are several reasons:
The minimum distribution must be taken before the end of the year, and may not invest in the state in the red this year if the funds already provided.
The minimum payout rate in May could be below the maximum amount that you put in a Roth. It is unlikely that the amounts will be adjusted. You can have up to $ 5,000 in a Roth each year. If your distribution is less than the minimum, you should make a difference. If more likely to be a penalty for more investment Roth.
Whatever you do, you have to pay taxes on the distribution of the minimum investment and Roth is not tax deductible. So they gain nothing from a direct transfer.
Finally, the custodian of the IRA can not afford to make this transfer, and will in any case, by molested her.
if I knew what that meant, he would give me an honest answer, but I'm Irish and the IRA to which you refer, I suddenly looked over my shoulder and shook it! lol:)
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