UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: krishnarama One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: Converting Regular IRA to Roth IRA Date: 10/22/2000 9:59 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hello everyone


I opened a Traitional IRA(without deductable) for the year 2000 in May. The reasons I opened Tradition IRA are

1) I am contributing to my 401K
2) Since all of my stocks were doing great during that period I thought my total income would exceed that $120,000 figure ,which prevents me from contributing to Roth IRA,if I sell them this year.

Well ,now all of my stocks hitting the bottom everyday and I have no plans to sell them this year so I now have the oppurtunity to contribute to Roth IRA fully($2000). Since I can't open one more IRA for year 2000 ,can I convert my existing Traditional IRA to Roth IRA and trade the stocks and never pay the taxes.

lessons learned hardway
Rama
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Macro Economics

2.1: The Labor Pool Problem
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement