I specified 7 annual roth conversions until I reach age 70 and I also specified that social security benefits would begin at age 66. The report correctly shows the first 3 conversions only. When I increase the social security claiming age to 70 then I get all the conversions. Is there a rule that roth conversions must end when social security begins?
I want to model converting part of my traditional IRA to a ROTH IRA. Here is what I did is this the preferred approach?
1. In the "Retirement Accounts/Special Withdrawals" window I entered an amount to be withdrawn from my IRA this year 2015.
2. In the Retirement Accounts/Contributions window I entered the same amount minus my RMD for 2015 as a ROTH contribution in 2015. I had to increase my age of last contribution to this year's age in order for the program to accept the ROTH contribution
Will this approach provide an accurate result?
Thanks
James
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