The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: Tax implication of roth conversion Date:  4/17/2010  9:10 PM
Author:  0x6a74 Number:  66962 of 96289

If I'm reading things correctly the ROTH conversion essentially counts as additional income so I will loose even more of the child tax credit. In order to make an accurate choice I need to take into account the lost child tax credit.

Absolutely IRA to Roth conversion counts as More Ordinary Income.

what that does to child credits, i don't know.

I guess my question is are there any other credits I should be aware of that I might be in danger of loosing and has anyone seen a spreadsheet / calculator that takes the tax implications into account?

what *i* did -- i use turbo tax, got an early version and used it (in Nov.) to run "what-ifs" over Conversion. for me, more income meant more SS taxed .

if it affects credits, that's another complication,
if it could get you into AMT ,that would be another.. difficult for a simple spreadsheet to handle all that.

there's a Tax Strategies board where you might get a better answer
Copyright 1996-2019 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us