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When you do a Roth IRA conversion, the sum you move over is taxable. But the amount of tax you pay hinges on your income and tax bracket. You may be able to pay 0% on long-term capital gains.
A Roth IRA conversion can be a great idea if you want to create tax-free income in retirement, but you’ll want to understand the trade-offs, especially the immediate tax consequences of converting.
What are the pros and cons of Roth conversions? While doing a Roth conversion means voluntarily increasing your taxable income, the primary benefit is paying a lower tax rate now versus a ...
A Roth IRA conversion may make sense for you depending on your situation, but it’s important to understand the pros and cons — and potentially speak to a financial advisor or tax expert ...
Transferring some of your retirement savings from a tax-deferred account like a 401(k) to a Roth IRA can help you reduce or possibly avoid required minimum distributions (RMDs) and income taxes ...
Some people opt to do a Roth conversion, moving funds from a pretax retirement account such as a 401(k) into a Roth IRA. This allows you to take your distributions tax-free (though you do pay ...
A Roth conversion is when you move money from one type of account to another type of account — for example, converting your traditional IRA to a Roth IRA. Since you’re transferring pre-tax ...
A Roth IRA conversion allows you to move funds from a traditional IRA or a 401(k) to a Roth IRA. You typically do this to gain tax advantages, specifically your money will continue to grow tax ...