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Greetings, Dave, and welcome. You wrote:

<<I plan on opening a Roth IRA. There is a very good chance that in the next 8-10 years that my AGI will exceed the limit for contributions to a ROTH. I know that I may convert without penalty to a regular IRA.

My question is, will I be able to recover the tax deductions on the 2K per year when I convert?>>


Sorry, but you are mistaken. You may convert a regular IRA to a Roth IRA, but the reverse does not hold true. If you make an annual contribution to a Roth, then you may not convert that Roth IRA to a traditional IRA after the time for filing of your income taxes for the year of contribution has elapsed. So eight to ten years from now, you cannot do what you mistakenly think you can. For details on conversions, reconversions, and recharacterizations of contributions to IRAs, see IRS Publication 590 (Individual Retirement Arrangements) available at http://www.irs.ustreas.gov/prod/forms_pubs/index.html.

Regards..Pixy
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