Roth conversions of his and her traditional IRAs
My wife and I both have traditional IRAs. I would like to convert my traditional IRA to a Roth IRA and take the option of paying the taxes on it this year (2010). My wife would like to convert her traditional IRA to a Roth IRA but the option she would like to select for paying taxes is 50% in 2011 and 50% in 2012. Any problem with this?
Permalink Submitted by Marvin Rotenberg on Tue, 2010-02-16 21:07
No problem. You on your conversion can pay the tax due in 2010 and yor wife on her conversion can spread the conversion amount over 2011 & 2012.
Marvin
Permalink Submitted by Gary Harmeyer on Wed, 2010-02-17 13:26
[quote=”[email protected]“]No problem. You on your conversion can pay the tax due in 2010 and yor wife on her conversion can spread the conversion amount over 2011 & 2012.
Marvin[/quote]
Thank you!