We took advice from a financial planner on the conversion---he has now been fired! My husband and I had an adjusted gross income of 102,000 which I have learned disqualifies us from being able to make the conversion.

Maybe not. Roth conversion eligibility ends at $100,000 Modified AGI (MAGI). One important difference between AGI and this particular MAGI is that you don't include the income from the Roth conversion. So, if you conversion produced at least $2,000 in income (line 15 of the 1040), you're home free.

Details are in Publication 590.

Phil Marti
VITA Volunteer