What is the optimal amount to transfer from 401k to Roth IRA to pay minimal amount of taxes.

[ksobkowski]

I will be turning 65 in October 2026. Should I wait to start transferring money or do it by the end of this year already since this is limited amount of time for optimal amounts to be transferred.

[dev145]

It is very difficult to tell the optimal amount that you can transfer from pre tax account to tax deferred account (i..e from 401k to ROTH) without know anything else. Your total tax will be based on your total income including this conversion so it is hard to know the amount. But if you like, you can use our 2024 desktop software to run different scenarios and plug in other income to see at what level you will be at the lowest or lower tax rate. 

If you have already filed 2024 return using TurboTax online, you can download desktop version for free from your TurboTax account and create dummy return to find reasonable amount to convert. 

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