However, you might not be able to change the method for computing how much money must come out of your IRA each year. If you own several IRAs, a special rule allows you to total the amount that you are required to take from each IRA and then take the grand total from just one. Or you can take the total from several IRAs in any amounts you like. No other beneficiary may do so, not even your children. Although you are not required to take distributions from your own Roth IRA during your lifetime, all beneficiaries except your spouse must begin taking distributions after you die.
Converted amounts are never subject to regular income tax after the year of conversion.
You already paid the tax. You may take more, but you may not take less. There you have it. If you print out these dozen tips and stick them in the vest pocket of your dinner jacket, then my money's on you to win any IRA debate, hands-down. See related articles in the AgeVenture archives.