If one is over 70 1/2 and receiving the mandatory distribution from an IRA and does not have any earned income, can any of the amount be converted into a Roth after paying taxes on said distribution?
Yes, you may still convert an IRA to a Roth IRA even though you are receiving your RMD as long as your modified AGI is $100,000 or less. Note, that you must first take your annual RMD. You can not convert the RMD. See IRS Pub 590 for the definition of modified AGI. The amount of earned income you have is not relevant for conversions of an IRA to a Roth IRA.
Related Questions
- If one is over 70 1/2 and receiving the mandatory distribution from an IRA and does not have any earned income, can any of the amount be converted into a Roth after paying taxes on said distribution?
- Does the addition of the converted amount (taxable) to one’s income affect his/her eligibility to make a contributory Roth contribution?
- May individuals younger than 70½ complete the Roth conversion if they otherwise have no earned income?
