Clarification Roth conversions 2011+
Did I understand a recent posting correctly?
In 2011, I will be able to convert an IRA Rollover to a Roth IRA (via partial/complete conversion) if I have taxable income over $100,000+ ?
Did I understand a recent posting correctly?
In 2011, I will be able to convert an IRA Rollover to a Roth IRA (via partial/complete conversion) if I have taxable income over $100,000+ ?
Permalink Submitted by Alan Spross on Mon, 2010-12-20 18:53
Yes. The income limit of 100k for Roth conversions ended in 2009. It will not come back unless Congress changes the law to bring it back, and that is unlikely since Roth conversions generate needed current tax revenue and they are popular with the public.