Roth IRA question and Request for year end tax tips.

From: kafer@jps.net
Subject: Roth IRA question and Request for year end tax tips.
Date: Wed, 16 Dec 1998 13:07:25 -0800

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Somesh--

Sorry, can't do it. Answer to your question is in IRS Pub 17 on page 126,
middle of third column. $100,000 maximum AGI applies to tax return, not
taxpayer(s). Congress disallowed the choice to file "married filing
separately" to get under the $100,000 ceiling. Only taxpayers filing either
"single" or "married, filing jointly" are eligible for conversions into
Roth IRAs.

Tax Tip: If you have enough unrealized capital losses in your investment
portfolio to reduce your AGI under $100,000, you still have time to sell
your losers. Consider "wash sales" rules.

FWK
- ------------- Original Message ------------
>Date: Wed, 16 Dec 1998 08:24:11 -0500 (EST)
>From: Somesh Rao <somesh@syl.nj.nec.com>
Subject: Roth IRA question and Request for year end tax tips.

Any year end tax saving tips from this group?

One quick question about Roth IRA conversions. If my wife and I 
have an AGI greater than 100k but individually our AGI is 
less than 100k can we make the conversion from a regular IRA to a
Roth IRA?

Thanks

>Somesh


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