Quote:
Originally Posted by retiredguy123
Yes, you can do a ROTH conversion of in-kind stocks from a traditional IRA, and pay income tax on the value of the stock. Personally, I don't think it is a good idea to do ROTH conversions in most cases. But, I did have a friend who converted all of his traditional IRA to a ROTH over a period of years. His reasoning was that he wanted his children to inherit his money with no tax hassles and no tax liability. This made sense to me because an inherited taxable IRA is very complicated to deal with, whereas a ROTH presents no problem for your children. By the way, you can thank the ACA law for the 10 percent medical deduction rule. It was one way to fund the bill.
|
Darn it, rg123, we were having a fine conversation and then you had to go all tribal on me.
I could respond by saying that I do not agree with your theory. I could go on to point out that it looks to me like a chunk of change from the tax law is in the hands of corporate CEOs who too often choose to drive much of it into stock buybacks to inflate share price.
I realize the fact that I do not like the top-heavy use of a lot of that money makes me a bit of an enigma, to some, because I have an interest in the market.
Oh well, rg, it was fun to discuss a little econ with you, but then you decided to try to take me down that road to nowhere. It would be a waste of time for both of us.