Statements/Questions version 1

bucrogers — Thu, 03 Apr 2008 16:55:19 GMT

Background:

1. I can not participate in Roth IRAs due the income limits.
2. I have a 401K available via my employer. If I was to create a personal IRA, I don't get the deduct my personal contribution (known as a "non-deductible IRA").
3. In 2010, the income limit to migrate TIRA (Traditional IRA) to Roth IRA is being removed.

Therefore I can do the following:

1. Contribute $4000 for 2007 into a non-deductible IRA as long as I do so by 4/15/2008.
2. Contribute $5000 (the max got bumped this year) each of 2008-2010. At this point I'll have $19,000 contributed into the ND IRA.
3. In 2010, convert the ND IRA into a Roth IRA.

Am I correct so far?

Roger

Test post

bucrogers — Thu, 03 Apr 2008 15:21:41 GMT

All

This is my first use of morningstar's discussion boards. I want to post some questions/statements about the 2010 law that is removing the income limitation from rolling over traditional IRAs to Roth IRAs.

First questions: Can anyone see this? I have this in my blog, and I'm not sure if posts and blogs are two different things or one and the same. Let me know if this blog is the correct way to start a discussion on the above topic.

Thanks,
Roger

2010 Roth IRA conversion rules

Statements/Questions version 1

Test post