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Retirement tax questions
I've just done my second year of a Roth conversion of monies from a Traditional IRA that was originally from a 401K. (Actually my husband's IRA, but I handle the taxes). I wish we had started sooner before Social Security, Medicare and pension kicks in. The general strategy is to convert an amount that doesn't kick you into the next tax bracket. Take advantage of low income years for conversion. We are getting Medicare so you also have to be aware of triggering IRMAA (income related Medicare adjustment).
‎January 5, 2021
10:00 PM