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I retired last year at 68 and was in the 25% marginal tax bracket. In 2014, I will be in the 10% marginal tax bracket but will return to the 25% marginal tax bracket in 2015 when I must start RMD withdrawals.

In 2014 I will incur tax deductible investment management fees but at the moment have no income on which I can apply the deduction. I was thinking that it might be desirable to withdraw some money from my IRA this year with the goal of not paying any income tax on it or have any Social Security benefit become taxable.

Does anyone know of software that is available that can calculate the tax liability of an IRA withdrawal?

I would prefer software that runs under Apple's OSX but could use software that ran under Microsoft's WindowsXP.
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If you don't need the funds, you could also convert TIRA to ROTH IRA.
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I've looked at Roth conversions; however, most Roth conversion calculators that I've used conclude that a conversion isn't worthwhile unless I have enough idle funds in banking or saving accounts to pay the Federal and state income taxes.

My IRA accounts have been quite successful since they were opened with a rollover from a former employer's 401(k) in 2002. Attempting to convert any one of the Traditional IRA accounts to a Roth IRA would place me in the highest Federal and California tax brackets, i.e. 53% of the account's value would go to pay income taxes.
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My IRA accounts have been quite successful since they were opened with a rollover from a former employer's 401(k) in 2002. Attempting to convert any one of the Traditional IRA accounts to a Roth IRA would place me in the highest Federal and California tax brackets, i.e. 53% of the account's value would go to pay income taxes.

So what if you just convert part of it, rather than the whole thing at once? Just convert enough funds that can be justified by the resulting tax impact.

IP
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My IRA accounts have been quite successful since they were opened with a rollover from a former employer's 401(k) in 2002. Attempting to convert any one of the Traditional IRA accounts to a Roth IRA would place me in the highest Federal and California tax brackets, i.e. 53% of the account's value would go to pay income taxes.

It seems to me that if you decide you would like to convert, and converting an IRA to a Roth-IRA is too tax-costly, you should bear in mind that you need not convert the entire IRA at once. So you might convert only as much as you can without leaving the tax bracket you are now in. Or maybe go up one tax bracket, but not all the way to the top.
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