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Originally Posted by retiredguy123
I agree with CPA #1. I never could justify a Roth conversion. But, my IRA assets have always been in bonds. I maintained my stock investments outside the IRA to take advantage of the lower capital gains rate. I had a friend who converted all of his IRA into a Roth so that his children could inherit his money tax free. It is also hassle free as compared to inheriting a traditional IRA.
Remember, that, if you ever have a huge medical bill, like assisted living, a nursing home, or home care, you can use money in your traditional IRA and take a medical tax deduction.
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About those inherited IRAs, the tax law changes seem to have tripped up some of that for beneficiaries. I just went through re-visiting beneficiaries on IRAs in relation to the tax law and a trust. Some places limit the contingents that can fit on the IRA (traditional) online form, so you have to have an “on-file” added. I found that a little aggravating. I needed only one more contingent line but it took an extra hoop to jump through to get it.
Boomer