The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Roth Conversion Question||Date: 12/23/2010 2:12 AM|
|Author: TMFBigFrog||Number: 67921 of 83150|
Why are you contributing to a Trad. IRA for your wife, then switching it to a Roth?
Why not put it directly into the Roth?
If your income is too high, you may not be able to contribute directly to a Roth IRA. While the income limits on conversions have been lifted, they haven't been lifted on direct contributions.
Hence the need for the extra machinations.
Inside Value Home Fool
(Whose income has never been high enough to disqualify him from Roth IRA contributions but who would be happy to have to go through that extra step.)
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|