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2008 Roth Conversion?
Old 01-13-2009, 02:58 PM   #1
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2008 Roth Conversion?

Can one do a traditional-to-Roth IRA conversion for 2008 yet, or did that stop on 12-31-08?

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Old 01-13-2009, 03:27 PM   #2
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I think it's over as of 12/31, I did mine on the 29th of Dec.. This was the first time I've done a conversion and I did 20K to get my feet wet.

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Old 01-13-2009, 04:40 PM   #3
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We are doing one for 2009 right now. You can recharacterize a 2008 conversion but cannot do a conversion after 2008 ends. Reason we are doing it early is because with the market down, we are being optomistic that we are selling at a market low and rebuying in a tax free forever account. Time will tell.

BTW, if you have Vanguard funds this can be done with a phone call -- no paperwork (but does not apply if you are doing it in a VBS brokerage account).
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Old 01-14-2009, 02:22 PM   #4
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Thanks. Further research shows we had enough medical expenses in 2008 that we wouldn't want the additional "income" from a Roth conversion. Maybe in 2009...
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