RetireSimply's Guide to Roth IRA.
The conversion process can take place using one of 3 methods: Rollover,Trustee-to-Trustee transfer, and a Same Trustee transfer. Note: If a Traditional IRA is converted to a Roth IRA, the transaction will be treated as a rollover - regardless of the actual method used.
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What is a Roth IRA conversion? (with examples)Read More >>
Do I have to pay taxes with a Roth IRA conversion or rollover?
Your tax bill will depend on the nature of the assets being converted. If the conversion assets were tax-deferred, there will be an ordinary income tax bill.Read More >>
Will a Traditional IRA to Roth IRA conversion increase my AGI?
If you are thinking of converting your Traditional IRA, be wary of increasing AGI.Read More >>
Am I eligible for a conversion? Rollover?
There are no requirements that need to be met for first time rollovers. However, if rolled over and recharacterized before, you may be effected by time limitations.Read More >>
When is the best time to convert?
Conversions are taxed at ordinary income levels. Keep this mind when selecting a time to convert.Read More >>
What is a rollover?Read More >>
What is a recharacterization?
Recharacterization is a great way of correcting, "undo"-ing, or merely changing the purpose of past transactions. It can also save you money!Read More >>
How long after a rollover before I can withdraw funds?
The same age and duration rules for standard contributions apply here, but the calculation of the conversion's 5-year start date is a little different.Read More >>
How many times can I convert?
You can convert as much as you want, but you can't convert as often as you want.Read More >>
Where can I rollover from?
You can rollover almost all other retirement accounts into Roth IRA accounts. Once the funds are rolled, the rules are a little more strict.Read More >>
Should I make a conversion?
Your individual goals and circumstancs will ultimately reveal whether conversion is right for you. Here, we'll go through factors to consider.Read More >>
If you converted or rolled over amounts to your Roth IRAs in 2010 and did not elect to include the entire amount in income in 2010, you must include part of the amount in income in 2011.