Question for the Money Doctors
Question submitted on Apr 16, 2012.
QuestionCan I convert my Minimum Requred Distribution from my IRA into a Roth IRA?
Required minimum distributions (RMD) are not able to be converted to a Roth IRA. However, if you would like to convert any amount beyond the RMD to a Roth you can do so. You can also use your RMD to help pay any tax on any amount you convert to a Roth after the RMD is taken. Amounts converted to a Roth IRA are not subject to RMDs during the your lifetime.
If you need assistance in evaluating if this makes sense for your situation, a CPA, PFS can help - visit www.findapfs.com to find a CPA,PFS in your area.
For additional information visit http://www.360financialliteracy.org/