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Retirees Can Still Fill the 12% Bracket Before Dec. 31

Original: A Retired Couple With $60,000 of Pension Income Can Still Convert $88,000 Before Dec. 31 Without Leaving the 12% Bracket. Most Convert Nothing and Leave Most of the Bracket Empty

Financial commentators say a retired couple with $60,000 of pension income can convert roughly $88,000 from a traditional retirement account to a Roth before December 31 while staying within the 12% tax bracket. The argument is that most retirees convert nothing, leaving the low bracket unfilled and missing a chance to move money at temporarily low tax rates ahead of possible rate increases.

Why now: The end-of-year deadline for tax planning decisions is approaching, prompting discussion of Roth conversion strategies.

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Evidence

• A Retired Couple With $60,000 of Pension Income Can Still Convert $88,000 Before Dec. 31 Without Leaving the 12% Bracket. Most Convert Nothing and Leave Most of the Bracket Empty · 247wallst.com

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