Traditonal IRA to Roth IRA plus regular Roth contribution
If you convert a Traditional IRA to a Roth IRA (2010), can you also contribute a regular amount ($6000, over 50 yrs. old) the same year?
If you convert a Traditional IRA to a Roth IRA (2010), can you also contribute a regular amount ($6000, over 50 yrs. old) the same year?
Permalink Submitted by Alan Spross on Thu, 2011-03-17 19:34
Yes, as long as you have the earned income at least equal to the amount of your contribution and your modified AGI is not too high. Note that your conversion income is NOT counted in determining your modified AGI, so converting will not contribute to your MAGI being too high for a regular Roth contribution.