If you are retired and are taking monthly withdrawals from an IRA can you change that IRA to a Roth IRA?

You may change a traditional IRA to a Roth IRA by converting the traditional to the Roth IRA ( Roth IRA conversion).

You may be required to add the converted amount to your taxable income for the yea the conversion is done.

…also, can convert your traditional IRA to a Roth IRA only if :


1. Your modified AGI is not more than $100,000.
2. You are not a married individual filing a separate return. (See Lived apart from spouse under Filing status, in chapter 1.)

Note also that if you are over age 70 1/2/ you must take your required minimum distribution (RMD)from your traditional IRA prior to converting it to a Roth. This RMD amount is added to your modified AGI when determining eligibility to convert.

Thank you - That answers my question

If you are thinking of converting a large amount, note that you may jump a tax bracket if you convert everthing in one year. That would make the conversion less attractive. You may convert a fraction of your IRA account over a few years in which you are eligible to "manage" the tax burden. You may also want to do the conversion in a year when you have some control over other variables (like stock sales, one time retirement payments, medical expenses, etc.) that make the most sense.

If a large amount of money is involved, I susgest that you consult an accountant.

Thank you for the added info and warning.
This is my first posting at this site and I am appreciative of the speedy replies.