- quote -

This statement is misleading. We've already established
that you cannot convert an RMD, regardless of income level.
The RMD must leave IRA-land forever.

- quote -

What you describe is a conversion from traditional to Roth.
There is no requirement that you have earned income, and
there is no limit on the amount you can convert in any year.
Eligibility to convert is based solely on filing status (no
MFS) and Modified AGI.

--
Phil Marti
Clarksburg, MD

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

- quote -

This statement is misleading. We've already established
that you cannot convert an RMD, regardless of income level.
The RMD must leave IRA-land forever.

- quote -

What you describe is a conversion from traditional to Roth.
There is no requirement that you have earned income, and
there is no limit on the amount you can convert in any year.
Eligibility to convert is based solely on filing status (no
MFS) and Modified AGI.

--
Phil Marti
Clarksburg, MD

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

<cardwellb[at]bellsouth.net> wrote:

- quote -

YES BUT..... I thought about doing the same thing, but my
income exceeds the amount elegible for a 'conversion.'.
However, even if you make over $100,000 ,you may still be
elegible to put up to $ 5000 in your Roth--If you have
EARNED INCOME. You could do this by a direct transfer from
your traditional IRA to the Roth, at least if both are with
the same broker (this would save commissions). See
http://wwwtaxman.blogspot for more details about Roth IRAs,
Required Min. Distributions and other related matters.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

cardwellb[at]bellsouth.net wrote:

- quote -

Not unless you have earned income or taxable compensation.
If so, your Roth contribution would be limited to either
that earned income or $5,000, whichever is less

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

cardwellb[at]bellsouth.net wrote:

- quote -

Not on that basis alone, but only if you have the requisite
amount of earned income from a job.

Next year I'll be taking my required distribution and pay
tax on same. It's just coincidental that those funds will
be used to fund my ROTH account because i'm also still
working.

ChEAr$,
Harlan Lunsford, EA n LA

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

cardwellb[at]bellsouth.net wrote:

- quote -

If you have an RMD, you must take it, and pay tax.

If you have earned income, subject to the income limits for
single/married, you may deposit money to a Roth regardless
of your age.

So, as long as you have earned income, there's nothing
stopping you from taking the RMD, paying the tax, and
putting up to $5000 in your Roth. But the way you phrase the
question, the answer is no, you can't 'convert' any part of
the RMD to the Roth, these are separate transactions.

JOE

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

<cardwellb[at]bellsouth.net> wrote:

- quote -

Probably not. The only thing we can say for sure based on
the facts given is that you cannot roll your RMD into an IRA
of any sort, including Roth.

If you have "taxable compensation" (see IRS Publication 590)
you can make a Roth contribution, but it has nothing to do
with your RMD.

--
Phil Marti
Clarksburg, MD

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

- quote -

Yes, if you meet the usual conditions for contributions to a
Roth ...

a) You have earned income (from a job or self employment)
equal or greater than the amount you put into the Roth

b) You observe the maximum limits for a Roth contribution

c) Your AGI allows you to make a Roth contribution

and you will still pay the normal tax on the RMD.

--
Don EA in Upstate NY

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Can I open a roth and put my annual required minimum
distribution into the Roth

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >