Save time with our cheat sheets, fact sheets, checklists & books!

March 20, 2010

Everyone Can Now Convert to a Roth IRA


Prior to January 1, 2010, an individual was ineligible to convert to a Roth IRA if any of the following applied:

  • His modified adjusted gross income (MAGI) was more than $100,000
  • His tax filing status was married filing separately

Effective January 1, 2010, these restrictions no longer apply. As a result, anyone who wants to do so, is now able to convert assets from other eligible retirement accounts to a Roth IRA.

PS: Individuals should work with a retirement or tax professional to determine Roth conversion suitability. There are many facts to consider when trying to determine if a Roth conversion is a wise financial move.



Keep Learning

Roth IRA Conversion Deadline

If you want to complete a Roth conversion this year, it must be done by December 31. Bear in mind that a Roth conversion is

SIMPLE IRA Employee Notification

An employee must be given the right to enter into an agreement to make salary deferral contributions to his employer’s SIMPLE IRA Plan, or to

Be among the first to know when

IRA Rules