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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76112  
Subject: Re: make too much for IRA Date: 2/21/2012 10:03 PM
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yes, i do have a roll over IRA. I thought I can open a new account and contribute $5000 and convert this alone. can i not do this?

No, you can not.

Not in the way you want, which is to make the conversion completely tax free. You MUST include ALL of your IRA accounts, including SEP-IRAs, when figuring out how much of your Roth conversion is taxable.

--Peter
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