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My understanding is that the opportunity to roll over an IRA into a Roth IRA in 2010 without any income limitation would be a one-time opportunity only, which is why I was getting enthusiastic about taking advantage as soon as possible with contributions to a traditional IRA; is that in fact the case?

The only 'one-time opportunity' associated with the lifting of the income requirements for conversions in 2010 is that you will be given the opportunity to pay the taxes over 2 years, for conversions made in 2010 only. For 2011 and after, the taxes will be due and payable for the tax year the conversion was made. Until Congress decides to change the law again, the lifting of the income limits for conversions will be 'permanent'.

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