Can I place money from my RMD into my Roth account? I will have income from a pension and a side business as well.
My first RMD's will begin in 2017.
Answers | 1
IRS rules prohibit putting your RMD into another tax-advantaged retirement account. Have you considered converting the remaining portion of your traditional IRA assets into a Roth IRA? This may help you avoid future RMD’s. Taxes may apply.
Here is a link to IRS pub 590B for more information.
Also, contact us directly to discuss efficient cash flows from your side business and your pension. No obligation.
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