Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: AKFOOL1 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: Re: Roth conversion Date: 9/20/1998 11:54 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Your income is the size of the IRA at the time of the last conversion.
The July tax bill passed by Congress approved the procedure of
"unconverting" a Roth IRA for any reason. Therefore, as has been
discussed many times on this board, a winning strategy is to unconvert
and then reconvert (before the end of the year), and pay taxes only on
the amount your IRA is worth at the time of the new conversion.>>>

Thank you Bob for your reply. I didn't know that one can unconvert and reconver, it will be great to save me a few dollars on income tax. I am new on this board.

<<<Query for TMFTaxes, though: What happens if you've added 1998
contributions after the conversion?>>>

Now, could you please so kindly guide me thru where I can find the info. or show me the procedure for hoy to unconver and reconver - my money is in Fidelity mutural fund. Thanks,






















Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev Thread | Prev | Next | Next Thread

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.
Post of the Day:
Value Hounds

Not Cheering the Shire Deal
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 "#1 Media Company to Work For" (BusinessInsider 2011)! 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