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Now Might Be a Good Time for a Roth Conversion

Jul 13, 2022 3:05:26 PM
written by The Retirement Group

One silver lining in the current bear market is that this could be a good time to convert assets from a traditional IRA to a Roth IRA. Converted assets are subject to federal income tax in the year of conversion, which might be a substantial tax bill. However, if assets in your traditional IRA have lost value, you will pay taxes on a lower asset base when you convert. If all conditions are met, the Roth account will incur no further income tax liability for you or your designated beneficiaries, no matter how much growth the account experiences.


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posted in Financial Planning, Tax, Roth Conversion

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