Old Simple and Sep IRA for Roth IRA Conversion
If an individual is still working for the same employer that now has an active 401k after upgrading from a Simple IRA, then a SEP, can the employee do a Roth IRA conversion with those (Simple and SEP)?
If an individual is still working for the same employer that now has an active 401k after upgrading from a Simple IRA, then a SEP, can the employee do a Roth IRA conversion with those (Simple and SEP)?
Permalink Submitted by Alan Spross on Thu, 2009-12-17 18:11
Yes, as long as the two year period has passed for the SIMPLE IRA portion. The income limits for conversions still apply until the end of the year, and then they disappear. A 2010 conversion would also be eligible for the two year deferral.