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<< I opened a Tradtional IRA last year because I needed a $2000 tax write off for 1999. I eventually would like to convert it into a Roth. When and how is the best way for me to do this >>

If you're going to do it, do it as soon as you can pay the tax due from the conversion income with non-IRA funds. The law allows you to convert in any year for which your AGI is less than $100,000 and you don't file Married, Filing Separately. The sooner you convert, the sooner the further earnings become tax-free.

<< and is it allowable/advantageos for me to keep one of each? >>

Allowable yes. Advantageous depends on you. There are a number of articles about IRAs that you might want to check out in the FAQ of the Tax Strategies board.

TMF ExRO
Phil Marti
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