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1. Is the end deadline for 2010 Roth conversions Dec 31, 2010 or April 15, 2011?

Conversions must be completed in the calendar year. That is, by 12/31.

2. Can I convert twice in 2010? Convert now with current funds in IRA and then later after 2010 deposits to IRA are made? Or is this a one time deal only?

You can make multiple conversions.


My current plan is to make non-deductible 2009 IRA contributions to my wife's and my IRA account before April 15 and convert the IRAs to our respective and existing Roth accounts relatively immediately.

It appears from previous response that in order to get 2010 non-deductible IRA contributions into the Roth accounts, I would need to make the contributions and second conversions before the calendar year's end.

And the maximum non-deductible contribution to IRAs is $5000 per individual ($10,000 total) correct?

Relevant details:
2009 MAGI (MFJ) is greater than $176k. I'm gonna have to assume 2010 will be as well (although there's a good chance we could be well below that). I participate in my company's non-matching 401k. Spouse has no 401k at her part time job. We can't make direct Roth contributions anymore so I'm hoping to be able to get an additional $20,000 into them this year.

Any issues with the above plan?

Thanks for the information.
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