Message Font: Serif | Sans-Serif
 
No. of Recommendations: 2
My daughter is 20. She has regular IRA. Is it OK for her to roll it over into a Roth IRA?

As long as her AGI without the conversion income is below $100K and she doesn't file Married, Filing Separately, sure. If she can afford to pay the tax on the conversion income from other than IRA sources, this looks like a great time to convert since there will be 40 years or so for tax-free earnings to accumulate.

Phil
Print the post  

Announcements

Disclaimer:
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.
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 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.
Advertisement