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No. of Recommendations: 10
"Our deductions exceed our income for this year. (We have very little income this year.)"

I would recommend that you do conversions up to the level of your deductions, and possibly enough to max out the 10% bracket.



Top of 10% bracket is ~$20,000. Top of 12% is ~$80,000. It's probably worth it to pay the extra 2% to do the larger conversion.


Look to future years. What is your income going to be and what tax rate will you be paying? It might well be worth it to pay 10% or 12% this year rather than 22% later on. Also keep in mind the possibility that you may be filing as single instead of joint.
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