Thanks again.Yes, the idea would be to contribute $2,000 to a Roth in 1998, in addition to converting the 1997 conventional IRA.So is it mandatory to spread the conversion income over four years? I think I will be in the 15% bracket for 1998, but maybe not in 1999 or thereafter. (It depends on whether I get a full-time job after I graduate from this program in 1999, or work on yet another degree.)Of course paying the tax on a $2,000 conversion is different from paying the tax on a $40,000 conversion. Or I could simply not deduct the 1997 contribution - that would make sense if I'm not sure how long after 1998 I'll still be in the 15% bracket.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Rat