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Author: steve2004 Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76418  
Subject: Existing traditional IRA into existing Roth IRA? Date: 3/5/2004 9:38 PM
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Long time ago, I started a tiny traditional IRA.
A few years ago, started a Roth IRA.
Can I now exit the traditional IRA and put its contents
into the Roth IRA? Where can I get a copy of the rules
that govern/prevent this?
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Author: Mark0Young Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 39713 of 76418
Subject: Re: Existing traditional IRA into existing Roth Date: 3/5/2004 10:02 PM
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If you meet the qualifications, you can convert some or all of your Traditional IRA to Roth.

See IRS Publication 590: Individual Retirement Arrangements http://www.irs.gov/pub/irs-pdf/p590.pdf

This is the relevent exerpt from Publication 590 (page 27):

Converting From Any Traditional IRA Into a Roth IRA

You can convert amounts from a traditional IRA into a Roth IRA if,
for the tax year you make the withdrawal from the traditional IRA,
both of the following requirements are met.

1) Your modified AGI for Roth IRA purposes (explained
in chapter 2) is not more than $100,000.

2) You are not a married individual filing a separate
return.

Note. If you did not live with your spouse at any time during the
year and you file a separate return, your filing status, for this
purpose, is single.


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