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Financial Planning / Tax Strategies


Subject:  More Roth Date:  1/30/1998  1:53 PM
Author:  dpine Number:  1617 of 132875

Like many of us, I'm pondering converting to Roth. It probably makes sense for me as I don't have a large IRA (yet) and I can't make deductable contributions anyway.
The other day I saw an article by Tobias on the Ameritrade web site that has me totally confused. It seemed to indicate that if you convert a traditional IRA to Roth it becomes a "conversion IRA" and one then can't make additional contributions. To make a 1998 Roth contribution you would have to set up a separate "contribution IRA" The two Roth IRAs can't be mixed. Yikes. Say it ain't so?

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