I think Roth IRAs were mentioned months ago, but I

I think Roth IRAs were mentioned months ago, but I thought it might be worth bringing up again for those who have (or are interested in) Roth IRAs and who also have a traditional IRA. While the CYDY price is low, this is a good time to do a rollover of CYDY from a traditional IRA to a Roth.

Here are some highlights of a Roth:
• Roth IRAs are funded with after-tax dollars.
• Withdrawals are tax-free, so earnings are not taxed.
• The Roth has to be at least 5 years old and you must be 59 ½ before you can make a tax-free withdrawal.
• There are no RMDs (required minimum distributions) like a conventional IRA.
• There is an income cap (based on your AGI) for contributing to a Roth, however, it is my understanding that contribution limits do not apply to rollovers.

I thought about posting this while I was working on my 2022 taxes. Here is the way it worked for me. I opened a Roth about 3 years ago and funded it initially with a rollover. I transferred some CYDY from my regular IRA to my Roth on 3 different occasions last year. The taxable amount of the transfers was the number of shares X the closing price of CYDY on the dates on the transfers. Fidelity sent me a Form 1099-R showing the sum of those 3 transfers as a withdrawal from my regular IRA and I will pay taxes on that. When I withdraw from the Roth, it will be tax-free. (Hopefully, there will be a significant tax-free gain from CYDY appreciation).

Anyone who is interested in this will want to do their own due diligence. Here are a few links to start with.

https://finance.yahoo.com/news/know-roth-iras...22984.html

https://www.nerdwallet.com/article/investing/...on%20limit.

https://www.theastuteadvisor.com/roth-ira-con...nal%20IRA).

https://www.fidelity.com/learning-center/pers...-questions

I appreciate the work the mods do to keep the board focused. Posts about this process could easily take on a life of their own, so I suggest that board members not reply with comments/questions about IRAs, rollovers, taxes, etc. The purpose of my post is just to encourage shareholders to think about the possible benefits of rolling over some of their CYDY shares from a traditional IRA to a Roth.