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  • My client inherited an IRA from her uncle who reached age 70 in 2006, and died on January 31, 2007. Is she subject to the rules that apply when someone dies before the RBD or the rules that apply when someone dies after the RBD?

  • I have about $250,000 in a traditional IRA, and want to convert the amount to a Roth IRA. However, converting the entire balance will push me in a higher tax bracket, and I cannot afford to pay all the taxes that will be owed in one year.  I do not want to pay the taxes owed with my IRA funds, but instead prefer to pay it out of pocket (with non-IRA funds). Can I convert portions of that $250,000 traditional IRA over a period of several years?