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Category:
Tax Planning

Will My Roth IRA Conversion Be Penalty-Free?

Converting a portion of an IRA to a Roth IRA is a complex process that involves many moving parts. Unintended consequences can result if the strategy is not properly analyzed or handled, including a possible impact on Medicare premiums two years after the conversion.

To help make the analysis easier, we have created the “Will My Roth IRA Conversion Be Penalty Free?” flowchart. It addresses common issues that clients encounter when doing a Roth conversion, including:

  • Implications for IRAs with after-tax contributions
  • Pro-rata and aggregation rules
  • Simple IRA rules
  • Medicare Part B and Part D surcharge impact
  • Application of the 5-Year Rule
  • RMD coordination issues
Related Guides
Will I Receive A Step-Up In Basis For The Appreciated Property I Inherited?
Category: Tax Planning, Estate Planning
Will I Receive A Step-Up In Basis For This Gifted Property?
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Can I Do A Net Unrealized Appreciation (NUA) Distribution?
Category: Working / Accumulation Phase, Tax Planning, Assets and Investment Planning
Should I Contribute To My Roth IRA Vs. My Traditional IRA?
Category: Working / Accumulation Phase, Tax Planning, Assets and Investment Planning, General
Will I Have To Pay Tax On My Qualified ESPP?
Category: Working / Accumulation Phase, Tax Planning
Should I Consider Doing A Roth Conversion?
Category: Tax Planning
Pay Stub Review
Category: Tax Planning
Do I Need To Start Making Estimated Federal Income Tax Payments?
Category: Tax Planning
What Will Have The Least Tax Impact: Harvesting Capital Gains Or Roth Conversions?
Category: Tax Planning, Assets and Investment Planning
Is My Rental Property Tax Deductible?
Category: Retirement / Decumulation, Tax Planning, Assets and Investment Planning
Where Should My Next Dollar Go?
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Can I Make A 529-To-Roth IRA Transfer?
Category: Tax Planning
What Issues Should I Consider When Doing A Section 1035 Exchange?
Category: Tax Planning, Insurance Planning

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— Andy, an advisor in Florida
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