Does a Conversion count toward the income limit ofRoth IRA’s
A married client makes $150,000. She converts $100,000 of traditional Ira to Roth. Can she make a full Roth IRA contribution or does the Conversion count as income and disallows her contribution????
Permalink Submitted by Anonymous (not verified) on Thu, 2010-11-04 20:26
MAGI will subtract out the conversion amount:
http://www.irs.gov/pub/irs-pdf/p590.pdf
p.58
pko