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Oh, whadda maroon!

All this time I thought our income bracket was too high to allow us to contribute to Roth IRAs, but, come to find out, it's only too high to _convert_ our current IRAs to Roths.

The details: since 1997 mine & husbands's AGI, filing jointly, has been over 100k but less than 150k.
Since 1992 we have each been making non-deductible IRA contributions into our accounts, each of which is kept in a single IRA account with Vanguard.

I'm assuming (since our AGI is too high for conversions) there is nothing we can do about our 1998 and 1999 contributions, which, at the time we contributed, _would_ have been eligible for Roth IRAs, but instead were placed in our traditional non-deductible IRAs ... or is there?

And what we can do about our current tax year contributions? So far, for tax year 2000, we have contributed $1500 each into our traditional non-deductible IRAs. Now that I've realized we can open and contribute to Roth IRA's (our AGI will not exceed $150k this year), would it be possible to transfer that $1500 each (plus whatever it's earned so far in the mutual fund?) to Roth IRAs, or will we only be able to put our remaining $500 allowable contributions into Roths (ie, will transferring the $1500 we already contributed be considered a "conversion" although the contribution was made in the current tax year?)

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