Question

Avoid AMT on transfer of IRA to Roth

Forum|Forum|4 years ago
December 1, 2021
2 replies
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Other

Critter-3

Do you mean a CONVERSION of an IRA to a ROTH ?

macuser_22

Employee

If you convert a Traditional IRA to a Roth then unless you have an after-tax basis it will be taxed as ordinary income and add to your AGI which in turn affects the AMT. (Basis is non-deducible contributions reported on a prior 8606 form.)

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

fanfare

Employee

To avoid AMT, convert a lesser amount to a Roth,

You can do another conversion in January.

macuser_22

Employee

@fanfare wrote:

To avoid AMT, convert a lesser amount to a Roth,

You can do another conversion in January.

Good advice.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**