Message Font: Serif | Sans-Serif
 
No. of Recommendations: 6
AJ pretty well answered your questions. But I'm going to get picky on terminology. When you talk to your broker to deal with these transactions, getting the terminology right can be the difference between a successful (as in accomplishing what you wanted to do) and unsuccessful transaction.

For the RMD portion, you can call it the RMD or a distribution or a withdrawal.

Likewise, with the portion going from your traditional IRA to the Roth IRA, use the word "convert" or "conversion".

Both of these might be called a transfer (as you did in your question), but as you can see, that's not a good description of the transactions you are trying to accomplish.

--Peter
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.