The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Now the time to convert IRA?||Date: 10/18/2008 4:58 PM|
|Author: Watty56||Number: 64295 of 73982|
January might be better.
If you wait until January to convert, then if stocks go down over the next year you will have a longer time to undo the conversion to not pay taxes on the lost value by doing a recharacteriztation.
I’m not a tax pro, but as I read it, if you convert in January 2009, and file for an automatic extension in April 2010, then you would have up until October 2010 to undo the conversion.
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|