Comments on: Should you convert your IRA to a Roth in 2010? http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/ Christian Personal Finance - Financial help, debt help and other financial resources Sat, 21 Nov 2009 05:30:02 -0600 hourly 1 By: TMacD http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/comment-page-1/#comment-16487 TMacD Sun, 11 Oct 2009 15:53:52 +0000 http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/#comment-16487 If I transferred a Roth IRA from one brokerage firm to a different brokerage firm, then does the "have held your Roth account for 5 years or longer" rule apply to the total combined time with both brokerage firms? Or, does the 5 years have to be with the same firm? If I transferred a Roth IRA from one brokerage firm to a different brokerage firm, then does the “have held your Roth account for 5 years or longer” rule apply to the total combined time with both brokerage firms? Or, does the 5 years have to be with the same firm?

]]> By: Britt Gillette http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/comment-page-1/#comment-15836 Britt Gillette Mon, 21 Sep 2009 20:12:22 +0000 http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/#comment-15836 Keep in mind that taxes only have to be paid on deductible contributions as well as investment earnings, so the entire amount of your conversion is not always taxable. As a result, in 2010, you can fully fund a Traditional IRA with non-deductible contributions, and immediately convert to a Roth IRA without tax consequence. Because of this “loophole,” the Roth IRA income limits effectively disappear as well. Keep in mind that taxes only have to be paid on deductible contributions as well as investment earnings, so the entire amount of your conversion is not always taxable.

As a result, in 2010, you can fully fund a Traditional IRA with non-deductible contributions, and immediately convert to a Roth IRA without tax consequence.

Because of this “loophole,” the Roth IRA income limits effectively disappear as well.

]]> By: 151th Edition of the Festival of Stocks http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/comment-page-1/#comment-14142 151th Edition of the Festival of Stocks Mon, 27 Jul 2009 14:53:15 +0000 http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/#comment-14142 [...] presents Should you convert your IRA to a Roth in 2010? posted at Money in the Bible | Christian Personal Finance Blog, saying, “There are many [...] [...] presents Should you convert your IRA to a Roth in 2010? posted at Money in the Bible | Christian Personal Finance Blog, saying, “There are many [...]

]]> By: Money Hacks Carnival #71 - Canada Day Edition | The Canadian Finance Blog http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/comment-page-1/#comment-13735 Money Hacks Carnival #71 - Canada Day Edition | The Canadian Finance Blog Wed, 01 Jul 2009 07:09:13 +0000 http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/#comment-13735 [...] presents Should you convert your IRA to a Roth in 2010? posted at Christian Personal [...] [...] presents Should you convert your IRA to a Roth in 2010? posted at Christian Personal [...]

]]> By: Jeff Rose http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/comment-page-1/#comment-13685 Jeff Rose Mon, 29 Jun 2009 03:55:31 +0000 http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/#comment-13685 @ Darrin Rollover IRA's would qualify, too. Any type of old retirement plans will qualify as well. @ Darrin

Rollover IRA’s would qualify, too. Any type of old retirement plans will qualify as well.

]]> By: Should you convert your IRA to a Roth in 2010? « Taxes Income http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/comment-page-1/#comment-13649 Should you convert your IRA to a Roth in 2010? « Taxes Income Fri, 26 Jun 2009 11:54:22 +0000 http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/#comment-13649 [...] Re­ad t­h­e­ original­ p­ost­: S­houl­d you c­on­­ve­rt your I­RA to a Roth i­n­­... [...] [...] Re­ad t­h­e­ original­ p­ost­: S­houl­d you c­on­­ve­rt your I­RA to a Roth i­n­­… [...]

]]> By: savvy http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/comment-page-1/#comment-13639 savvy Thu, 25 Jun 2009 18:32:21 +0000 http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/#comment-13639 Very timely post. Hubby and I are considering coverting our traditional IRAs next year. I will probably run our taxes both ways to determine what the additional tax burden would be and go from there. Very timely post. Hubby and I are considering coverting our traditional IRAs next year. I will probably run our taxes both ways to determine what the additional tax burden would be and go from there.

]]> By: Darrin http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/comment-page-1/#comment-13638 Darrin Thu, 25 Jun 2009 16:23:59 +0000 http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/#comment-13638 What about Rollover IRAs? I know they're technically different than the Traditional IRA but do the same rules mentioned in your post apply to the Rollover IRAs? What about Rollover IRAs? I know they’re technically different than the Traditional IRA but do the same rules mentioned in your post apply to the Rollover IRAs?

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