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Personal Finance and Investing

question everything

(50,030 posts)

3. Thank you, yes I do.

Reply to A HERETIC I AM (Reply #2)

Mon Aug 10, 2020, 12:32 PM

Aug 2020

The way I have been doing is to ask Vanguard to withhold federal taxes from RMDs that went to the bank but not on the conversion because, well, the idea is to convert as much as possible.

But now I will ask them to withhold for the conversion, too. Also sending more with the quarterly estimates.

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Is there a limit on how much can be converted to Roth? [View all] question everything Aug 2020 OP

As far as I am aware there is no limit on how much you can convert from an IRA to a Roth still_one Aug 2020 #1

Why would anyone hate you? I would certainly hope no one that participates in this group would.... A HERETIC I AM Aug 2020 #2

Thank you, yes I do. question everything Aug 2020 #3

Vanguard probably has a calculator that might help... A HERETIC I AM Aug 2020 #4

I don't think so. I converted $60,000 one year, and $50,000 a couple other years progree Aug 2020 #5

P.S. - other considerations progree Aug 2020 #6

Thank you very much! question everything Aug 2020 #7

Another option to consider: Qualified charitable distributions UrbScotty Aug 2020 #8

Thank you. Interesting. question everything Aug 2020 #9

It's not taxable income, but it's also not deductible. UrbScotty Aug 2020 #10

Thanks for the link. question everything Aug 2020 #11

I was looking at transfer from one 401K to another and the only thing they Steelrolled Aug 2020 #13

I think for Qualified Charitable Deductions, it HAS TO BE a direct transfer progree Aug 2020 #14

I think that the charitable organization would know how it works question everything Aug 2020 #15

no limit. Consider the mariginal tax rate for the conversion though. Pobeka Aug 2020 #12