Can a Required Minimum Distribution (RMD) from an Annuity be Converted to a Roth?

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  • Опубліковано 31 січ 2025

КОМЕНТАРІ • 7

  • @CastleWealthGroupLegal
    @CastleWealthGroupLegal  7 місяців тому

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  • @lamleg1172
    @lamleg1172 8 місяців тому

    So even if you are working a job and have taxable income the RMD can't be CONTRIBUTED to a Roth account? Not a conversion but a contribution.ll

    • @johnkollm3243
      @johnkollm3243 8 місяців тому +2

      I believe as long as you have earned income and you are within the income limits, you can contribute to a Roth.
      For example, if my RMD was $50k and I made $7k in part time income, I could contribute $7k to a Roth IRA.

    • @CastleWealthGroupLegal
      @CastleWealthGroupLegal  8 місяців тому

      No, RMD can never be used for a Roth Conversion.

    • @johnkollm3243
      @johnkollm3243 8 місяців тому

      @@CastleWealthGroupLegal If I earn $7k in PT income, I can contribute $7k to a Roth IRA. Are you disputing that?

    • @lamleg1172
      @lamleg1172 8 місяців тому

      Its not a conversion its a CONTRIBUTION.​@CastleWealthGroupLegal

    • @lamleg1172
      @lamleg1172 8 місяців тому

      ​@@johnkollm3243Exactly what I'm talking about.