Roth Conversion
FAQ: Should I do a Roth Conversion? -- Good question, here's what you should know…
Converting to a Roth IRA from a Traditional IRA, Rollover IRA, or other pre-tax retirement plans (401k or 403b) will create a taxable event for the calendar year it's completed. However, the taxes due will NOT automatically deplete the account balance, and may be paid from a different source.
As of 2010, there are no restrictions on converting a Traditional IRA or Rollover IRA to a Roth IRA.
Roth IRAs have a number of Tax-Fee Benefits that traditional retirement plans do not provide (see Roth IRA details).
Roth Conversions can be done in-full or as a partial conversion, regardless of income level.
Converting to a Roth IRA makes good sense for many reasons, but timing can be a significant factor -- Consult your CPA or Tax Accountant for tax advice prior to enacting a Roth Conversion.
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