For higher income earners who are not eligible to contribute to a Roth IRA, can a non deductable IRA contribution be made and then soon thereafter convert the IRA to a Roth IRA? For example, I make a $5,000 2011 contribution and a $5,000 2012 contribtuion today to a non deducatable IRA and then in a few days convert both contribtuions to a Roth IRA. Is such a scenario allowable?