Comments on: 2010 Roth IRA Conversion Loophole http://amateurassetallocator.com/2009/11/16/2010-roth-ira-conversion-loophole/ Amateur Asset Allocator Fri, 10 Feb 2012 18:16:33 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Kyle http://amateurassetallocator.com/2009/11/16/2010-roth-ira-conversion-loophole/comment-page-1/#comment-10016 Kyle Sat, 07 Aug 2010 14:12:43 +0000 http://amateurassetallocator.com/?p=2906#comment-10016 Yes, this is true. IRA conversions can get very complicated if you have lots of them, which is why I advocate consolidating your accounts as much as possible. Yes, this is true. IRA conversions can get very complicated if you have lots of them, which is why I advocate consolidating your accounts as much as possible.

]]> By: Edwin Choi http://amateurassetallocator.com/2009/11/16/2010-roth-ira-conversion-loophole/comment-page-1/#comment-9999 Edwin Choi Thu, 05 Aug 2010 21:44:41 +0000 http://amateurassetallocator.com/?p=2906#comment-9999 Great post about Roth IRA conversions. One clarification, if you've made deductible contributions to a Trad IRA in the past, even if it's in an account separate from your non-deductible contributions, a portion of your conversion will be taxable. The IRS looks at all your IRAs together to determine the taxable portion. From Fairmark (http://www.fairmark.com/rothira/conseq.htm): Q: What if I have more than one traditional IRA? Can I convert one but not the other? A: Yes, but when you determine how much of your conversion distribution is taxable, you're required to treat all your traditional IRAs as if they were one big IRA, so you don't get any advantage if you take the distribution out of the IRA that has the most nondeductible contributions. Great post about Roth IRA conversions. One clarification, if you’ve made deductible contributions to a Trad IRA in the past, even if it’s in an account separate from your non-deductible contributions, a portion of your conversion will be taxable. The IRS looks at all your IRAs together to determine the taxable portion.

From Fairmark (http://www.fairmark.com/rothira/conseq.htm):

Q: What if I have more than one traditional IRA? Can I convert one but not the other?

A: Yes, but when you determine how much of your conversion distribution is taxable, you’re required to treat all your traditional IRAs as if they were one big IRA, so you don’t get any advantage if you take the distribution out of the IRA that has the most nondeductible contributions.

]]> By: Britt @ Your Roth IRA http://amateurassetallocator.com/2009/11/16/2010-roth-ira-conversion-loophole/comment-page-1/#comment-6080 Britt @ Your Roth IRA Tue, 17 Nov 2009 02:39:20 +0000 http://amateurassetallocator.com/?p=2906#comment-6080 Excellent post. A lot of articles are cropping up in regard to the 2010 Roth IRA conversion limit disappearing, but not all of those articles mention the contribution limit loophole as you have. And even fewer mention that you need to tred carefully if you're making non-deductible contributions to a Traditional IRA you previously made deductible contributions to. Well said...! Excellent post. A lot of articles are cropping up in regard to the 2010 Roth IRA conversion limit disappearing, but not all of those articles mention the contribution limit loophole as you have. And even fewer mention that you need to tred carefully if you’re making non-deductible contributions to a Traditional IRA you previously made deductible contributions to. Well said…!

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