So I'll be paying a little less percentage in taxes in 2018 than in 2017 so that has me wondering... I'm funding mine and my spouses ROTH IRAs. I was not able to fully fund both, so I can still contribute about $3,000 for 2017.
I will be equally unable to fund both in 2018. Does it make sense to pull $3,000 back out of one of our ROTHs and put it in a traditional IRA for 2017 and then immediately convert it over in 2018?
I have plenty of actual contributions to pull from the ROTHs penalty free, so this should lower my taxable income in 2017 and then when I convert it in 2018 I'll basically be paying 2% less, right?
As for my income, it is already set in contract for 2018 and I won't see an increase until January 2019 so I'm not going to be shooting myself in the foot by contributing more with the conversion and preventing myself from being able to fully fund 2018 because I already know I won't be able to.
Submitted January 06, 2018 at 12:29AM by Jasonrj http://ift.tt/2m0nJkA
