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So... I just retired at 62. I plan to start converting my IRA into my Roth (which I opened decades ago) big-time next year. The top of the 24% bracket is about $165K. So... can I just convert $165K on January 3,2022 and then withdraw from the Roth if needed for living expenses in 2022? I feel like this satisfies the 5-year rule, but I don't want to make a giant mistake.
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Keep in mind that the $165,000 you're looking at is TAXABLE income, which is all income after all deductions. Will you have no income, other than what you take -or convert - from the IRA? And you have to consider the standard or itemized deductions, as well. Ignoring those things "could" be a giant mistake.

Bill
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