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Avoid AMT on transfer of IRA to Roth

 
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4 Replies

Avoid AMT on transfer of IRA to Roth

Do you mean a CONVERSION of an IRA to a ROTH ?  

Avoid AMT on transfer of IRA to Roth

If you convert a Traditional IRA to a Roth then unless you have an after-tax basis it will be taxed as ordinary income and add to your AGI which in turn affects the AMT.  (Basis is non-deducible contributions reported on a prior 8606 form.)

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

Avoid AMT on transfer of IRA to Roth

To avoid AMT, convert a lesser amount to a Roth,

You can do another conversion in January.

Avoid AMT on transfer of IRA to Roth


@fanfare wrote:

To avoid AMT, convert a lesser amount to a Roth,

You can do another conversion in January.


Good advice.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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