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Once your RMD is out of the way, you can reinvest any excess cash in a taxable brokerage account and decide whether you'd like to make Roth conversions. Both strategies can offer great advantages ...
If you want to convert some of your IRA or 401(k) to a Roth IRA, you'll have to make your RMD first. Any excess could be converted, and you can use the proceeds from the RMD to pay for the conversion.
Image source: Getty Images. 1. You can only invest in certain accounts. If you're reinvesting your RMD, you can't put that money back into a tax-deferred account like a 401(k) or traditional IRA ...
Starting at age 73 (or 72 depending on your birthdate), the IRS requires you to begin withdrawing a minimum amount each year from your pre-tax retirement accounts, such as 401(k) plans and IRAs ...
The conversion to a Roth is typically a 100% taxable event in and of itself. Once these funds are within a Roth though, you can do whatever you like with them without having to take RMDs.
Another reason to take your RMD in January is that you can't make Roth conversions until after you've finished taking your RMD. With historically low tax rates set to expire at the end of the year ...
Although such conversions are taxable as ordinary income for the year in which they're completed, the IRS doesn't care where the subsequent tax payment comes from. You could use your RMD money to ...
Another inconvenience of taking your RMD late in the year is that you can't make Roth conversions until after you have taken your RMD. Retirees may be looking to take advantage of historically low ...
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