Yes, I did the RMD first; Then the conversion after. Then paid estimated tax on the conversion. Next year, I plan to tax-withhold almost the entire RMD and not need to pay as much estimated tax.In other words, your Roth IRA is qualified and entirely tax free. You can withdraw whatever amount you wish and do not have to report it on Form 8606 because your first Roth contribution was well over 5 years ago and you are over 59.5. You only report the distribution on line 4a of Form 1040.
That said, since you are subject to RMDs for 2024, you must have completed your RMD for all non Roth IRAs before doing any conversions. Hopefully, you did these transactions in the correct order.
Statistics: Posted by robertalpert — Sat Oct 05, 2024 10:12 pm — Replies 21 — Views 2050