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URL:  http://boards.fool.com/this-brings-up-something-ive-been-wondering-10028212.aspx

Subject:  Re: Regular IRA xfer to Roth IRA Date:  9/7/1997  2:37 PM
Author:  vlt Number:  313 of 121563

This brings up something I've been wondering about.

Ever since AGI limits were imposed on the deductability of IRAs in 1990 or so,
I have either exceeded the AGI limit for an IRA deduction, OR I've been covered
by a 401(k) plan. I've made IRA contributions every year, but have not been
able to deduct them on my 1040. So, in effect, I've been making Roth-style
IRA contributions for the last several years. In addition, my income is such
that I should remain eligible for the Roth IRA in the future.

My question is: Since I've already paid taxes on my IRA contributions, can I
just declare them to be Roth IRAs on January 1, 1998 with no tax consequences?

thanx, -- vince
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