I have paralyzed myself with indecision about what to do with my IRA.
It has both taxable and non-taxable contributions. I am so confused about how to calculate the taxable amounts on a distribution that, almost in despair, I am considering converting the entire thing to a Roth.
That doesn't make much sense because I will have to use the IRA proceeds to pay the taxes.
What I really, really need is a software that can calculate the taxable percentage of an IRA distribution on an ongoing basis.
In other words, if I set up monthly payments of dividends from the IRA account, I need software to calculate how much each month I have to declare as income.
Does such software exist?
Thanks in advance for any assistance you can lend.