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New Member
posted Oct 12, 2023 8:38:26 AM

How can I calculate my taxes and then be able to determine the amount that can be moved from a Traditional IRA to a Roth IRA without getting into the taxable range?

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1 Best answer
Level 15
Oct 12, 2023 9:37:57 AM

Prepare a simulated 2023 tax return using either the CD/download version of TurboTax or establish a separate test account to use online version of TurboTax.  Of course when using the online version of TurboTax you'll only be able to view the details of Form 1040 and Schedules 1 through 3, no other forms, but that should be sufficient to determine when your tax liability becomes nonzero.

 

TurboTax's TaxCaster tool is useless for this purpose.  It's never updated timely and omits several possibly relevant details.

2 Replies
Level 15
Oct 12, 2023 9:27:35 AM

@dmertz?

Level 15
Oct 12, 2023 9:37:57 AM

Prepare a simulated 2023 tax return using either the CD/download version of TurboTax or establish a separate test account to use online version of TurboTax.  Of course when using the online version of TurboTax you'll only be able to view the details of Form 1040 and Schedules 1 through 3, no other forms, but that should be sufficient to determine when your tax liability becomes nonzero.

 

TurboTax's TaxCaster tool is useless for this purpose.  It's never updated timely and omits several possibly relevant details.