gold coin custodian and Roth IRA
[b] Two questions 🙄 I have a client who has about $50,000 in gold coins in an IRA being held at the firm he purchased the coins from, my question is can these coins be held by another custodian such as a local bank?? How can the client find someone in our area (NE Ohio).
Second questionI thought 2009 was the year to offer attractive conversion terms from a regular IRA into a Roth ( regardless of income), now is it my understanding the client must wait until 2010??
Thanks for the help [/b]
Permalink Submitted by Clyde Wolf on Tue, 2008-12-02 21:36
Buy1low,
For the gold coins, I would start inquiring to the local banks and credit unions.
The $100,000 MAGI limit to do a TIRA to Roth IRA conversion goes away after 2009. Your client (like many others) must wait until 2010.