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Retirement tax questions
@Critter-3 wrote:
Simplest solution is to take out the RMD now to satisfy the requirement.
The way I read the question, the OP converted the entire traditional IRA to a Roth IRA (except for the tax withheld). He just said he "converted an IRA to a ROTH." If that's what he did, there is nothing left in the traditional IRA that could be taken out to satisfy the RMD. The OP, @PCM43, will have to clarify the situation.
If my understanding is correct, treating it as an excess contribution to the Roth IRA may be the only solution.
‎July 24, 2021
7:37 PM