✉news BusinessPersonal Finance first seen 9 h ago, last 1 h ago, peak #17

Late-December Roth conversions can land in the new tax year

Original: Convert $60,000 on Dec. 28 and the Custodian May Not Process It Until Jan. 3. It Then Counts for the New Year, and for a Retiree Going Back to Work Part-Time, Most of It Can Land at 22%

Financial commentators are warning that a Roth conversion requested near year-end may not be processed by the custodian until the following January, meaning the converted amount counts toward the new tax year instead. For a retiree who returns to part-time work, that income can fall into the 22 percent bracket rather than a lower one. Advisers suggest placing conversion requests well before December 28 to avoid the timing problem.

Why now: Year-end tax planning deadlines make conversion timing a live concern for retirees and savers.

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• Convert $60,000 on Dec. 28 and the Custodian May Not Process It Until Jan. 3. It Then Counts for the New Year, and for a Retiree Going Back to Work Part-Time, Most of It Can Land at 22% · 24/7 Wall St.

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