Can someone verify for me the maximum that a joint couple's income can be in order to convert an IRA Rollover to a Roth IRA Rollover. My understanding is $100,000 AGI is the limit for conversion, while $150,000 is the limit for a $2,000 annual Roth IRA. Is this correct?Second, if I contribute 5% to my company's 401k plan, can I still contribute $2,000 to a Roth IRA, assuming my income is > $2K, but < $150K?Lastly, if my Rollover is $50,000 and my joint adjusted gross income is $90K - $100K, what should I expect the Federal & State tax liability to be? Do I literally, multiple the rollover amount times 28% if that is my bracket?
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