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I made a mistake two years in a row by setting up my traditional IRA before My CPA calculated the AGI. Although our AGI was under $150,000 in 1998 qualifying me for Roth IRA, it was over $100,000 which meant I could not convert the IRA already set up. I contributed to traditional IRA in 1999 again but just found out from the CPA that our AGI in 1999 was under $100,000. I calculated the #s and am sure I should convert. My question is, am I allowed to convert it now based on AGI of 1999 or is it too late? I just never know what our AGI is until the tax is done. I've decided to wait til next year and find out if our AGI is under $160,000 before contributing for 2000. I still have 25 years before turning 59 1/2 so Roth would really be beneficial if there is a way to convert.
Thank you for your help.
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