Full Version: roth conversion vs. med deductions
I have been advised to do IRA conversions up to the max. 15% bracket. however I have massive medical deductions limited to the excess of 7.5% AGI. Is there a spreadsheet/formula to figure out the actual max. to convert without shooting one self in the foot on the med. ded.?
QUOTE (bob1 @ Feb 16 2007, 04:47 PM) 
I have been advised to do IRA conversions up to the max. 15% bracket. however I have massive medical deductions limited to the excess of 7.5% AGI. Is there a spreadsheet/formula to figure out the actual max. to convert without shooting one self in the foot on the med. ded.?
Can you use a tax prep program and run the scenarios? If you have Turbo Tax or another similar program, play with the numbers and see how it adds up. Those programs have the formulae built in so you will get a more accurate answer.
~S~
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.