Early retirement and IRA-Conversion (trading, dividends, investments, income)

[blktoptrvl]

OK, I need to do a little research, but I am looking for general opinions to start...

• I early retired last year. I am 54.
• I have about 61% of my investments in a Traditional IRA.
• I have about 27% of my investments in a regular trading account.
• I have about 11% of my investments in a Roth-IRA.
• This year, and for the foreseeable future, I should have zero income. But like this year, I will have a little in gains and dividends from the trading account.
• This year I will have no taxes due.

It seems to me that between now and 70 is the time to start converting my T-IRA to a R-IRA.

If I read and understand this correctly (again I still have to research), SC will allow me to exempt $3K a year in taxes from my IRA. But the reality is that if I try to move more than the standard deduction, I will trigger taxes. (I realize this is not necessarily a bad thing - compared to the tax on the minimum required distributions [MRD] at 70 years old, but for this exercise, I am just trying to avoid taxes.)

• Federal Standard Deduction $6300. <-- I should be able to move this amount without triggering taxes.
• The South Carolina Standard Deduction is the same as the federal.
• I think that if I tried to move $9K (the $6.3K standard deduction + $3K state exemption) I would trigger a $300 tax due on the federal, but not the state.

Does this make sense?

The upshot is that I should be able to move at least $6,300 a year (94,500.00 total - assuming the standard deduction stays the same) between now and 70 years old without triggering any tax.

Does anyone know of a online calculator that will allow me to consider how much tax is acceptable in the near future vs. at the MRD?

[NewbieHere]

Why don't you use Taxcaster , it tells me how much to move and still stay in the lowish bracket.

[mizzourah2006]

Don't forget your personal exemption of $3,950 for federal taxes as well.

[Newporttom]

That should be a major financial goal, moving money over to Roth. It doesn't have to stop at 70 either. Don't be afraid of paying SOME tax. I am advising a guy who can move $19,000 a year and pay just $888. Totally worth it.

[flyonpa]

Q: What are you doing for Health Ins?
Q: Where is you income for living coming from?
Q: How much a year do you need to live?

[jw2]

Originally Posted by mizzourah2006

Don't forget your personal exemption of $3,950 for federal taxes as well.

$4000 for 2015

[blktoptrvl]

Thanks for the responses... Using the suggested "Taxcaster", I have done my calculations and decided how much I want to move.