Thanks @retireddjg
Thanks for the insights. So each year I would want to do a conversion i would be paying a pretty hefty tax amount given a lot of that conversion $ would be considered taxable given the high roll over balance right?
Is the only than upside that once those $ are converted into Roth account all the gains are tax free.
I.e pay 98%+ on the $7K i want to convert each year as taxes at time of conversion, but than the growth of $7K will grow tax free? Probably a wash but potentially still of a lower tax rate in the future its still make sense? What do you think?
Thanks for the insights. So each year I would want to do a conversion i would be paying a pretty hefty tax amount given a lot of that conversion $ would be considered taxable given the high roll over balance right?
Is the only than upside that once those $ are converted into Roth account all the gains are tax free.
I.e pay 98%+ on the $7K i want to convert each year as taxes at time of conversion, but than the growth of $7K will grow tax free? Probably a wash but potentially still of a lower tax rate in the future its still make sense? What do you think?
Statistics: Posted by vjam23 — Wed Mar 12, 2025 4:55 am — Replies 2 — Views 239