The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Another IRA RMD Question||Date: 7/20/2011 11:29 PM|
|Author: aj485||Number: 113779 of 119677|
I want to convert the money that remains after taxes are paid on the distribution and convert to a Roth.
cue music....You can't always get what you want....
I must be overlooking wherever this is spelled out.
No, you aren't, because you cannot convert an RMD from a traditional IRA to a Roth IRA.
You are allowed to convert some of your remaining traditional IRA, but you would owe additional taxes on this conversion.
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|