ROTH conversions are Taxable

Melissa Clary News 0 Comments

If you convert a traditional IRA to a Roth, you will pay a price!
Converted amounts attribute to tax deductions from contributions. Plus all of the earnings are taxable at ordinary income rates.
You may lessen the tax hit by choosing to
convert only part of your IRA to a Roth, rather than all of it.
Of course you may convert as much as you like, or convert an a set amount of money from your IRA to a ROTH each year, if that seems feasible.

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