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Eileen is divorced, age 58, and recently retired. Her savings and brokerage account investments fund her cash flow needs. What types of income might Eileen
Eileen is divorced, age 58, and recently retired. Her savings and brokerage account investments fund her cash flow needs. What types of income might Eileen be required to report on her tax return this year? (5 points) Eileen has about $1 million in pre-tax retirement accounts. Since Eileen's taxable income is only about $10,000 this year, you suggest that she convert funds from her IRA to her Roth. If she wants to maximize the 12% tax bracket, how much can she convert? (5 points) How much federal income tax would she pay on the conversion amount? (5 points)
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