Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Is there still time?
Old 01-15-2012, 05:39 AM   #1
Full time employment: Posting here.
Badger's Avatar
 
Join Date: Nov 2008
Posts: 829
Is there still time?

Since my wife has been retired for a year now and our income is less than the previous year we may have some room to convert some traditional IRA money to a Roth IRA before going into a higher tax bracket. I know there is still time to contribute to a 2011 Roth IRA but can you convert to a Roth IRA from a traditional IRA for the 2011 year before the April tax deadline?
I would like to move as much as possible but not to exceed the top of my low tax bracket.

Cheers!
__________________

__________________
Badger is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-15-2012, 06:54 AM   #2
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,477
The cutoff to include the withdrawal in 2011 income is 12/31. If you do it now it will be considered 2012 income. Sorry.
__________________

__________________
MichaelB is online now   Reply With Quote
Old 01-15-2012, 06:57 AM   #3
Full time employment: Posting here.
Badger's Avatar
 
Join Date: Nov 2008
Posts: 829
Awwww nuts! Looks like my time will be better used working on a plan for 2012 then. Thank you for such a quick response.

Cheers!
__________________
Badger is offline   Reply With Quote
Old 01-15-2012, 10:40 AM   #4
Thinks s/he gets paid by the post
Helen's Avatar
 
Join Date: Oct 2004
Location: Portland
Posts: 1,351
Are you Badger from the Motley Fool forum?
__________________
Helen is online now   Reply With Quote
Old 01-15-2012, 03:26 PM   #5
Full time employment: Posting here.
Badger's Avatar
 
Join Date: Nov 2008
Posts: 829
I don't think so. It has been a few years since I used that forum and I don't recall having a log-in name. I hope nobody is giving me a bad reputation.

Cheers!
__________________
Badger is offline   Reply With Quote
Old 01-15-2012, 04:09 PM   #6
Thinks s/he gets paid by the post
Helen's Avatar
 
Join Date: Oct 2004
Location: Portland
Posts: 1,351
Quote:
Originally Posted by Badger View Post
I don't think so. It has been a few years since I used that forum and I don't recall having a log-in name. I hope nobody is giving me a bad reputation.

Cheers!


No, you're safe, he's a good guy.
__________________

__________________
Helen is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Two years in...How do you find the time? Brdofpray Hi, I am... 30 01-27-2012 07:19 AM
Going to Part Time Employment with Government? FUEGO Other topics 2 10-25-2011 06:15 PM
My Part Time Job ended yesterday FreeAtLast Hi, I am... 8 09-22-2011 02:19 PM
It's Time for Me to Start! studbucket Young Dreamers 17 09-21-2011 10:22 PM

 

 
All times are GMT -6. The time now is 11:22 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.