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Traditional IRA to Roth Conversion
My situation seems simple but Turbotax doesn't seem to walk me through it in a way that makes sense to me.
I am retired, have no W2 income and want to look at the tax implications/Brackets to determine what I can convert from traditional to Roth but from what I've been able to research this effort is commingled with contributions.
I receive $32k in SSA, and budgeted an ordinary distribution from my Traditional Ira of $33k but when I increase the $33k to $53k TurboTax increased my tax liability by about $7,300 which doesn’t make sense. Especially since I’m looking at the SSA tax Calculation, spreadsheet, and formulas that they provide showing that I am still in the 12% tax bracket?
Is there a straightforward road map that I can follow to achieve a conversion and look at the tax consequences?
I very much look forward to your insight
Thanks