Most Roth conversion calculators are geared to issues regarding whether the conversion should be made or not. As such, they would be focused on the difference between present and future marginal tax rates. For a near term conversion, you don’t need such a calculator, just a tax program to plug in the added income at various conversion amounts.

This is much more dicey this year due to the 2 year deferral. You could develop a much more accurate estimate if you report the entire conversion in 2010 vrs the two year deferral with which you would have to know your taxable income and the tax rates in both those years. Tax rates are due to rise starting in 2011, but will require Congressional action to prevent increases for incomes far below the level Obama promised in the campaign. For example, the 10% bracket would be eliminated under current law. But I would not discount possible changes to the higher bracket thresholds that would make 2011 and 2012 very difficult to predict unless you are under the 25% bracket with the added income. You could also face state income tax rate increases.

At least, you still have to ability to recharacterize all or part of any 2010 conversion up to 10/17/2011, so if something unexpected happens, you can adjust to it after the fact.

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