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Is there a written formula to manually calculate how much a person can convert from an IRA to an established Roth in 2019 while staying in the current 12 percent tax bracket?

Is there a written formula to manually calculate how much a person can convert from an IRA to an established Roth in 2019 while staying in the current 12 percent tax bracket? I am a single person on Social Security.

Social Security, IRAs, Taxes
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2 weeks ago

For 2019 individuals in the 12% tax bracket can make $9,700 up to $39,474. Depending on what your current income is will determine how much you can convert while keeping you in the 12% bracket.

The other thing to keep in mind, if you are under your Full Retirement Age (this varies by what year you were born) and are receiving Social Security, you're allowed to make up to $17,640. If you make more than that, some of your Social Security benefits will be withheld by the government. Specifically, they'll keep $1 for every $2 you receive. Your conversion will not count towards this, however.

I hope this helps!

3 days ago