Go to Jeff Salisbury LWGate Home Page.From: SMabel555@aol.com
Subject: Roth conversion taxes
Date: Tue, 20 Oct 1998 00:29:32 EDT
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Finally, it's time to convert my traditional IRA to a Roth. Massachusetts adopted good Roth Conversion tax laws, and the market is down (good for IRA conversion). But wait, another variable... As I understand it, upon conversion, my $20K IRA would count as an additional $20K of income for me this year, which I could then divide over 4 years. Net result is an additional $5K of income each year. True? But, If I go to grad school in 1999, I will have very low income (probably $15K salary). Would it then make sense to convert in 99, assuming I wouldn't be paying much in taxes on my low salary? I'm also looking for references to tax law as applied to graduate school. I could make a case either way as to whether this is a "career change", so I need to do that research, also. Thanks Scott - -
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