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another IRA query

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MZB

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Dec 24, 2008, 1:07:14 PM12/24/08
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I understand that you never have to take $$$ out of a ROTH IRA (ie: minimum
distribution).

So, if I move $$$ from an IRA to a Roth IRA (and pay the taxes of course)
does this also reduce the minimum distribution required at age 70 1/2?

If so, then if all your IRA $$$ was in Roth IRAs when you are 70 1/2 there
would be zero minimum distribution required. Is this true?

Mel


Phil Marti

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Dec 24, 2008, 2:47:42 PM12/24/08
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"MZB" wrote:

> I understand that you never have to take $$$ out of a ROTH IRA (ie:
> minimum distribution).

Correct

> So, if I move $$$ from an IRA to a Roth IRA (and pay the taxes of course)
> does this also reduce the minimum distribution required at age 70 1/2?
>
> If so, then if all your IRA $$$ was in Roth IRAs when you are 70 1/2 there
> would be zero minimum distribution required. Is this true?

It's true as long as you complete the conversion before January 1 of the
year you turn 70 1/2. If you have traditional IRA funds as of that year you
have an RMD for that year, which cannot be converted to Roth.

--
Phil Marti
Clarksburg, MD


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