"A 73 year old has their first RMD this year of $8,000. After reading an article on Roth conversions, the IRA owner elects a $30,000 Roth conversion before withdrawing their RMD. It seems the IRA custodian allows this as the IRA owner's intent was to do a rollover, taking possession of the $30,000 withdrawal and within 60 days, deposit it in a Roth IRA (his first) as a Roth conversion. But the $8,000 will be considered the RMD
withdrawal, not a Roth conversion while the remaining $22,000 will be considered a Roth conversion. So under these circumstances, assuming this 73 year old or his spouse has no earned income, that an $8,000 excess contribution has been made to his Roth IRA? If so, the IRA owner has until October 31, 2026 to withdraw the excess Roth contribution and its associated earnings. Is this correct?"
