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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
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.
No, RMD can never be used for a Roth Conversion.
@@CastleWealthGroupLegal If I earn $7k in PT income, I can contribute $7k to a Roth IRA. Are you disputing that?
Its not a conversion its a CONTRIBUTION.@CastleWealthGroupLegal
@@johnkollm3243Exactly what I'm talking about.
Join our FREE live webinar now at www.wisdomwebinar.com, or book your FREE 15-minute consultation today at www.15Chris.com!
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
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.
No, RMD can never be used for a Roth Conversion.
@@CastleWealthGroupLegal If I earn $7k in PT income, I can contribute $7k to a Roth IRA. Are you disputing that?
Its not a conversion its a CONTRIBUTION.@CastleWealthGroupLegal
@@johnkollm3243Exactly what I'm talking about.