A suggested order is to do any QCD Qualified Charitable Distribution first,1) Am I allowed to convert the RMD withdrawn amount to a Roth IRA contribution?
2) Are there any downsides to doing this? (If I do not need the money, it seems like a freebie)
3) If I already took the RMD, can I still put that amount into a Roth in the same year? Or does it need to be part of the same transaction?
then RMD Required Minimum Distribution, and then any other distribution.
Once the money is out of your retirement account, it could be used for other purposes, like spending on expenses, investing, paying taxes, or contributing to a Roth account, subject to other restrictions.
Statistics: Posted by VanGar+Goyle — Mon Jun 10, 2024 2:46 am — Replies 17 — Views 983