Skip to main content
No. of Recommendations: 0
I looked here for an answer but couldn't find it. Hoping this has a simple answer. Thanks!

I'm 72 and retired. I took my 2021 RMD on April 16: net $23,174 after required deduction of $1,029 for state taxes. (We have a refund due for 2020 federal taxes and have applied it to 2021 taxes.) I deposited the net RMD into my regular (taxable) Schwab account. We won't need the money this year, and so it now occurs to me: could I instead do a conversion of this RMD money into my Roth IRA account, since I'll be paying federal tax on it this year regardless?
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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.