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Originally Posted by djmdawson
Hmm. Appreciate the info but must admit, not much help saying "pay your taxes" and suck it up cause you have 15 years left on earth anyways. Not really answering anything and not clearly from someone with experience, so I will put this "rarified" non-advice where it belongs, in the toilet.
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What can I say but welcome to IRMAA, NIIT and AMT! Believe me, you will NOT come to love paying them.
Regarding owning a rental house...What I initially posted in good faith from Kiplinger pretty well sums it up. At age 83 I have been involved in the rental business for 75 years and dealt with thousands of tenants in houses, apartments, mobile home parks and the self storage business so I believe I may know a little something about it. My father had nine rental homes. I was the slave from an early age, child labor, cutting the grass, painting and cleaning up after tenants left. Even one rental house can become a nightmare if you get a bad tenant. Paying plumbers and electricians to make repairs when necessary is very expensive so a small landlord better be both capable of and enjoy such work. Is the OP prepared to get calls in the middle of the night because a tenant has locked himself/herself out? Being a landlord is a JOB!
BTW, what I did is move ALL my IRA funds to a Roth during a very, very low tax year for me, fortunately concurrently a year during which the market had plunged. Win, win!