UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 72499  
Subject: Re: IRA to ROTH little at a time Date: 9/2/1999 10:38 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Greetings, Mbwaters, and welcome. You asked:

<<I have an IRA that I would like to convert to a Roth IRA. The taxes will be too high if I convert it all at once. From reading the IRS Pub 590 regs I think I understand I could transfer a portion of my IRA to the Roth every year without having to convert it all at one time. If this is true it would be great because I work overseas and can use my deductions to offset the small transfers every year for about 4 years with no taxes having been paid. If anyone can verify this I would appreciate the info.>>

Your understanding of the provisions of IRS Pub 590 is correct and right on target. You may transfer as little or as much of a traditional IRA to a Roth IRA as you wish. The only requirement is that you meet the adjusted gross income limits in the year of the transfer. Therefore, if you wish to transfer a traditional IRA over a four-year period, you may do so.

Regards..Pixy
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Invest Better Hub
Take advantage of our newest free service, Invest Better!
New Fool-Branded Credit Card Available!
How does your card compare to ours?
Post of the Day:
iPIG Portfolio

Something Had to Change
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Facebook Fool Fan Club
Be a fan of the Fool over on Facebook!
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Get the Fool Phone App
Save and share content, zero in on sectors, podcasts, and much more!
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