Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I know, I know, you've been answering zillions of questions about converting Roths, but I am still not clear on a couple of points. I can't afford to convert my entire SEP at one time (actually I have more than one). I know I can't convert any future contributions once I start the conversion, but can I spread the conversion out over several years?
I'd like to take out about 1/3 each year, paying the taxes as I go. I figured that if this is allowed, I'll open a new SEP this year, so there will be no new contributions to my old ones after the conversion starts.
Also, do conversions affect the $2000 allowable Roth yearly contribution?
Thanks for all your help, DP
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.