Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Starting in 2010 the income limitations for Roth conversions (not contributions) were eliminated, giving birth to the "backdoor Roth."

drip,

Oops, I replied to the wrong response in http://boards.fool.com/vkg-either-i-dont-understand-your-ans... (it wasn't a response to my post ... darn those similar sounding titles and the lack of an edit button).

As I mentioned there, maybe I'm being anal, but I don't see unambiguous wording regarding the elimination of the income limitations. I see this line
Starting in 2010, the $100,000 modified AGI limit and the filing status requirements for converting a traditional IRA to a Roth IRA have been eliminated.
Is that what you mean? And was the $100,000 AGI limit previously the only limit on conversions, meaning that now there are no AGI limitations whatsoever? Thanks.

Bill
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