Roth Conversion Taxes Explained
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Roth ConversionSmartAsset
•Ask an Advisor: I'm Going to Do a Roth Conversion on $250k. Can I Use the Converted Funds to Cover the Taxes?
77% Informative
A Roth conversion allows you to move money from a traditional, tax-deferred retirement account into a Roth IRA.
You can pay the tax bill using either the converted funds or money from other sources.
Since Roth IRAs grow tax-free, it’s much more efficient to maximize the savings there.
You can pay the tax bill on a Roth conversion from any source.
You can have a portion of the conversion withheld; you can wait until tax time and withdraw from the Roth balance.
An emergency fund should be liquid -- in an account that isn't at risk of significant fluctuation like the stock market.
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