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Author: Rbell58 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76082  
Subject: Qualifying for a Roth IRA Date: 10/4/1999 4:55 PM
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Last year when the conversion to a Roth IRA had advantages I was going to convert my IRA to a ROTH IRA. I got the forms and as I read through the literature the further I read the more disappointed I became. Unless I read the information wrong it looked as if I did not qualify to roll my IRA into a Roth IRA and defer the taxes over the 5 year period. I'm not complaining as to why. (my wife's and my income gross was over $100,000.00)

My question is this. Although I could not get the defered tax advantages would I be better off in the long run to convert to a Roth IRA or leave it where it is and start a Roth IRA?
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 14220 of 76082
Subject: Re: Qualifying for a Roth IRA Date: 10/4/1999 5:18 PM
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Greetings, Rbell58, and welcome. You wrote:

<<My question is this. Although I could not get the defered tax advantages would I be better off in the long run to convert to a Roth IRA or leave it where it is and start a Roth IRA?>>

If your AGI is $100K or less, you may convert a traditional IRA to a Roth. It may or may not be Foolish to do so because much depends on how you will pay the taxes due on conversion, your tax rate today versus that in retirement, how long the money will stay in the IRA, and your estate size/desires.

For details and an analysis on both contributions to and conversions to a Roth IRA, see my study in post 1567 on this board at http://boards.fool.com/Message.asp?id=1040013000441002&sort=postdate.

Regards..Pixy

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