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Post by saratoga on Feb 13, 2024 19:30:18 GMT
Yogi, do you know where IRS addresses this issue of not reversing RMD? I would like to see their wordings if there are.
In any case, l think I will withdraw my RMDs but not any more from my tax deferred accounts. My weights of taxable/tax deferred/Roth are 1.25/1/0.75. I could build up the Roth account during the last six years partially due to the still-working-exception. Due to the exception, I could Roth convert the amount that I would have invested in a taxable account otherwise. This is also why I still have interest in the exception.
My soft budget is pension + SS + RMD. Taxable and Roth are invested aggressively. Tax deferred account is invested moderately. This should work out ok in most circumstances.
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Post by yogibearbull on Feb 13, 2024 19:44:46 GMT
saratoga, I only know that in 2020, Congress passed an exception that reversed RMDs from earlier that year. Something like that has never been done before or after. The first stumbling block may be the IRA sponsor who may treat and deposits into IRA as new contributions, and that may lead to IRS penalties for excess contributions if ineligible in retirement. This issue is also cited for taking RMDs first, and then doing any Roth conversions; the reverse leads to disallowed actions.
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