Wife and I are 65 yo, semi-retired, will be fully retired within 6 months. We started Roth accounts a couple of decades ago so distributions of contributions and gains are currently qualified. I was planning to use our Roth balances to keep taxable income low and take SSI at 67 for the wife and 70 for me and gradually do conversions of our retirement accounts minimizing the tax rate of conversions and avoid RMDs. I understand order of contributions, conversions, then gains for the 5 year rule.
If I empty the Roths first then refill with conversions in the same calendar year am I ok with the 5 year rule?
Or does a conversion made in the same year as a distribution take precedent over any previous gains?