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Non-Tech : Kirk's Market Thoughts
COHR 178.34-10.2%Dec 12 9:30 AM EST
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To: Kirk © who wrote (2793)2/13/2015 5:59:36 AM
From: w0z1 Recommendation

Recommended By
Kirk ©

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Roth is the best way I've found to solve the RMD problem but you need to do most of the conversion before you reach 70.5 and are forced to take both SS and RMD. Apparently there is still a way to fly beneath the IRS radar if you can keep your MAGI below $100k. I've been doing this for the past few years to avoid long term capital gains taxes (i.e. zero). However with both SS and the RMD, it will become more difficult but possible IF I add some earned income. I believe it would be possible to contribute all earned income <$5k to a Roth as long as MAGI stays below $100k. I'm not thrilled about doing that myself but it is an option.

"You can also contribute to a Roth IRA after you reach the age of 70½, as long as you have earned income and your income does not exceed certain limits (AGI phase-outs start at $95,000 for single taxpayers & $150,000 for married couples). How much can you contribute? Assuming you’re over age 50, and qualify for the “catch up” contribution limit, you may contribute $5,000. There is an exception: if your earned income (wages or salary from work) is under $5,000, you may only contribute up to the amount of your earned income."

bankaholic.com

BTW here's a link about how to pay zero capital gains taxes (again only if you can keep your MAGI below the IRS radar):

bankrate.com
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