We are married & file jointly. live in GA with a combined income of less than $65k annually. We purposely keep our income under a taxable amount. This fiscal year we wanted to withdraw $20k from IRA w/o incurring any tax liability. Using the TurboTax calculator it appears we could withdraw about $13,000 from a standard IRA and $7000 from a Roth and avoid any tax liability.
However, we decided to not spend the entire $20k and now want to contribute a portion ($5k) of what we withdrew from the regular IRA ($13k) and contribute it into the Roth IRA.
Is there a problem with doing that?
Are there any negative consequences we are not seeing?
