Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Personal Finance and Investing

question everything

(50,030 posts)

7. Thank you very much!

Reply to progree (Reply #6)

Mon Aug 10, 2020, 01:33 PM

Aug 2020

Yes, a consideration. I think that had the RMD not been suspended, we might be close to the 22%. And if the IRAs currently are above the Dec. 19 level.. will have the same "problem" next year. Working on my Projected 2020 tax spreadsheet right now.

Sigh

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

15 replies

= new reply since forum marked as read

Highlight:

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