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This is my post. I'm single & selfemployed & have just been informed I will start getting some Stocks transfered into my name (to lose the Capitol gains). I have a Traditional IRAs, but no Roths yet.

You have a lot of reading to do. As an overview, I offer the following high points.

1. Since you're self-employed, you have access to a wide range of retirement plans in addition to traditional or Roth IRAs. A SEP is one such plan. You'll find details in IRS Publication 560.

2. Regardless of what kind of retirement plan you participate in you can contribute $2,000 to a traditional IRA or a Roth IRA, if your income allows a Roth contribution.

3. Conversions of traditional IRA amounts to Roth, including converting SEP funds to Roth, operates independently of contributions.

I suggest you fully explore All About IRAs:, and come back for clarification if necessary.

Phil Marti
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