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 In the "Retirement Accounts/Special Withdrawals" window I entered an amount to be withdrawn from my IRA this year 2015.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?