I have 115,000 taxable income before taking a Roth conversion. I assume I can convert 38,000 and stay within my 25% tax bracket of 153,100 maximum. Is this true?

554

Level 15

Jun 6, 2019 7:35:18 AM

"my" 25% bracket you cited is for MFJ. Single is different.

Level 15

Jun 6, 2019 7:35:20 AM

Yes, but hat's only *approximately* true. The additional $38K is income and changes your AGI and AGI governs other tax benefits. Common ones include medical deductions, tuition deductions and credits, child tax credit.

TurboTax (TT) download software can be used to do trial returns to see the effect of changes. The tool is also useful. https://turbotax.intuit.com/tax-tools/calculators/taxcaster/?s=1

TurboTax Online (TTO) is not very useful that way

Level 15

Jun 6, 2019 7:35:21 AM

and remember your State taxes.

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I have 115,000 taxable income before taking a Roth conversion. I assume I can convert 38,000 and stay within my 25% tax bracket of 153,100 maximum. Is this true?