Re: Roth conversion questions

From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: Roth conversion questions
Date: Sun, 3 Jan 1999 16:13:49 -0500

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>I converted my IRAs (both deductible and non-deductible) to Roth this year,

There's no such thing as a "non-deductible IRA."  Any non-deductible contribution
becomes part of ALL your traditional IRAs the moment it's made.

>and have a couple questions.
>
>1.  Am I _required_ to spread the income over 4 years, or can I take it all
>in 1998?

Your choice.  However, 1998 is the only year you have this choice.  In the
future, you have to take all the conversion income in the year of the conversion.

>
>2.  If I decide to spread the income over 4 years and in that get married
>and my income goes over the limit (or if I somehow miraculously surpass the

The income limit for a particular year only applies to the year of the
conversion.  Tax Year 1999 and beyond is totally irrelevant to your
1998 conversion eligibility.

Rich Carreiro
rlcarr@animato.pn.com
P5-100/RedHat Linux 4.2

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