Roth IRA conversion and RMDs
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  #11  
Old 01-31-2018, 11:27 AM
It's Hot There It's Hot There is offline
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I would suggest getting professional advice on the nursing home cost deductibility .......... not seeing facts so far.
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  #12  
Old 01-31-2018, 11:36 AM
Villageswimmer Villageswimmer is offline
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I would suggest getting professional advice on the nursing home cost deductibility .......... not seeing facts so far.

It is. See IRS Pub. 502 @ irs dot gov
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  #13  
Old 01-31-2018, 11:53 AM
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It is. See IRS Pub. 502 @ irs dot gov

If medical reasons, not personal reasons and the adjustment relating to AGI.

Hate when facts get in the way.
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  #14  
Old 01-31-2018, 12:51 PM
Villageswimmer Villageswimmer is offline
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If medical reasons, not personal reasons and the adjustment relating to AGI.

Hate when facts get in the way.
Does anyone go to a nursing home if not for a medical reason? They won’t take you if not medically qualified. Sorry, I don’t understand.
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  #15  
Old 01-31-2018, 03:11 PM
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villagetinker villagetinker is offline
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Back to my original question(s). I am looking for potential gotchas with doing the conversion in one year versus taking RMDs over 25 years or so. I agree the impact on Social Security (medicare) payments was not something I had thought about, a BIG thank you. So looking for any others.
Lets keep up the discussion as I am sure there will be others interested. As I mentioned before, all of this discussion will become questions for the tax and financial planning advisors.
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  #16  
Old 01-31-2018, 04:02 PM
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If I don't convert, I earn on 100% of my invested portfolio. If I convert, I earn on 75%, 70%, 65%, etc., on my portfolio. After 10 years, if I don't convert I have, what, 40% larger portfolio.
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  #17  
Old 01-31-2018, 05:13 PM
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If I don't convert, I earn on 100% of my invested portfolio. If I convert, I earn on 75%, 70%, 65%, etc., on my portfolio. After 10 years, if I don't convert I have, what, 40% larger portfolio.
Yes, BUT, you get into RMDs at age 70, which is what started this thread. So you cannot keep all of your investments in the original tax sheltered investments. So I am looking at alternatives, ALL now or use the government required RMD schedule.
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  #18  
Old 01-31-2018, 05:52 PM
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Of course RMD is coming........so is death.

My point is I would rather have 40% more in my pocket and let RMD runs its course than "prepay" taxes.
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  #19  
Old 01-31-2018, 08:40 PM
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Of course RMD is coming........so is death.

My point is I would rather have 40% more in my pocket and let RMD runs its course than "prepay" taxes.
AH! you are getting to the crux of the matter, I am trying to determine if "prepaying" the taxes as you put it is better than paying the additional taxes for 25 years or more. I am hoping for more interesting discussion on this.
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  #20  
Old 01-31-2018, 09:26 PM
Jkenworthy1325 Jkenworthy1325 is offline
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Money that is put in tax free and is coming directly to you will be taxable.


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