A Sweet Deal on Roth IRA Conversions: If you earn too much to qualify in 2009, set your sights to convert to a Roth in 2010

摘要

EMPLOYEES WHO MAKE (OR who have made) after-tax contributions to their employer's retirement plan, listen up. You can now take that money and convert it to a Roth IRA tax-free. To qualify for a Roth conversion, your adjusted gross income may not exceed $100,000, whether you are single or married. But don't despair if you make too much now; income limits on conversions disappear in 2010. Income limits on new contributions to Roth IRAs, however, will remain in effect. In 2009, individuals who make up to $120,000 and married couples who make up to $176,000 may contribute up to $5,000 to a Roth IRA, and $6,000 if they are 50 or older.