Guys,
Looking for some + and - on doing a Roth IRA Conversion.
I retired (again) on 30DEC23 at age 63 and now have an army pension and a federal civil service pension. Bottom line is I'm stuck in the 22% tax bracket. In addition, when I retired I sold back annual leave which pushed my final paycheck in JAN to over $32K. I had quite a bit in the federal TSP, both pre and post tax.
I plan on starting SS next year when I turn 65, so 2024 will be my lowest year income wise (unless the Feds and KS come through with not taxing SS). My thought is to do a ROTH Conversion this year in DEC when I know how the Tax on SS pans out, then possibly again in 25.
Thoughts?
