If you take a distribution from an IRA, and you're over 59 1/2, and you withhold Federal Taxes from the distribution, can you still do a Roth Conversion based upon the Gross amount vs. Net?
Example: $50,000 gross distibution from IRA. 20% Federal tax and state tax is not an issue, IRA holder gets a net check from $40,000. Can you they do a conversion based upon the $50,000?
Any feedback would be great. Thank you.