ChristianPF.com on Roth IRA Conversions in 2010 - A Good Idea?

ST. LOUIS, June 26 /PRNewswire/ -- Financial blog, ChristianPF, posted an
article discussing the advantages of a Roth IRA conversion in 2010. In 2010,
Roth IRA conversions won't have the usual income limitations they have had in
the past.

The article also takes a look at some of the advantages of converting now
rather than waiting until 2010:
-- In 2009, any withdrawals from a traditional IRA can be used to fund a
Roth IRA. In years past, mandatory withdrawals from a traditional IRA
typically couldn't be deposited into a Roth IRA. But the federal
government has suspended mandatory IRA withdrawals for 2009. Any IRA
withdrawals made in 2009 are thereby elective withdrawals. So, if your
adjusted gross income (AGI) is $100,000 or less, you have an option to
fund a Roth IRA with a withdrawal from a traditional IRA - at least
through the end of 2009.

-- In 2009, you can fund a Roth IRA with after-tax contributions to a
401(k), 403(b) or 457 retirement savings plan. This year, you can take
those contributions and convert them to a Roth IRA tax-free, provided
your AGI is $100,000 or less. More good news: there is no limit to the
conversion amount.

Read the full article here:
http://www.christianpf.com/convert-traditional-ira-to-roth-ira-2010/

SOURCE ChristianPF.com

Bob Lotich of ChristianPF.com, business@christianpf.com, Twitter: christianpf