InvestorsHub Logo

dispoman

01/04/10 11:32 AM

#18373 RE: ded60 #18363

Ded: I am not a tax expert. However, it is my understanding that in 2010 you are permitted to transfer funds from a traditional IRA or traditional 401K to a Roth IRA. There is no income limitation on the rollover. You will be taxed at the time of the rollover as though it was a distribution. The income limits still apply with respect to annual contributions to a Roth. No one talks about it, but I am guessing there will be a substantial increase in income taxes to the U.S. government for 2010 as people take advantage of the Roth rollover provision and pay the tax on that transfer.