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Good point about the taxes. The bracket limit is more like $170K in 2002. I can add my schedule A deductions to that amount (which include state tax on the conversion if paid as estimated tax in 2022) but I have to pay both Fed and NC tax. I wanted to keep it simple in my post. I’m worried about converting and withdrawing in the same year. My understanding is that it’s ok because I’m >59.5. My question is solely about the 5-year rule. Can I put money in and take it out in the same year? I’m just interested because it seems convenient.
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