I am currently contributing to my employer sponsored Roth 401(k). In 2017 my husband and I jumped up to the 25% tax bracket so my contributions were made using pre-tax dollars.
My husband left the military in 2017 and is currently going to school full time using GI Bill benefits which are non-taxable. According to the 2018 tax brackets we expect to be in the 12%, which is the lowest we intend to be in goin forward. That being said, would it make sense to do an in-plan conversion and turn my pre-tax traditional contributions to Roth contributions and reap the benefit of a smaller tax bill?
What are some advantages and disadvantages to doing so? The amount that would be converted is about 13k.
Submitted January 24, 2018 at 09:49PM by its_whit http://ift.tt/2E82W7v
