Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Roth - Traditional - Roth Conversion???
Old 03-10-2011, 08:40 AM   #1
Recycles dryer sheets
Join Date: Feb 2011
Posts: 69
Roth - Traditional - Roth Conversion???

Looking for some help - I have had two Roth IRAs (one in my name, one in my wife's) for 5-6 years. A couple of years ago my income started exceeding the maximum for a Roth. I have read somewhere that there's a way to convert to a Roth from a traditional even if you exceed the income max for a Roth.

Do I have to convert to a traditional IRA?

Can I convert to a traditional and then back to a Roth? If so, how?

CorporateSoldier 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 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 03-10-2011, 10:13 AM   #2
Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 2,504
Not sure I really understand the question but if you are asking if you have to get rid of your existing Roths that were legitimate at the can keep them if you qualified for that yr. In yrs when your income is too high to contribute to a Roth,
you can contribute to a traditional (probably can't deduct contributions but check to be sure). Was that the correct question?

If you contribute to an IRA of any type and later (within time limits) decide
you need it to be the other type, you can recharacterize it.....ask your broker how to do it......they probably require you to fill out a form.

kaneohe is offline   Reply With Quote
Old 03-10-2011, 10:18 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
Join Date: Mar 2007
Posts: 8,490
Google "Backdoor Roth". The caveat is that if you have pretax dollars in your IRAs, you have to do withdrawals or conversions pro rata, i.e. proportionally between pre and after tax across all IRAs.

How to Fund a Roth IRA Conversion Through the 'Back Door' -
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Old 03-10-2011, 10:30 AM   #4
Thinks s/he gets paid by the post
ronin's Avatar
Join Date: Oct 2003
Posts: 1,153
You can get quite a bit of info here:

Guide to Roth IRA, 401k and 403b Retirement Accounts

Scroll down about half the page to the conversion section.
We are, as I have said, one equation short. Keynes
ronin is offline   Reply With Quote
Old 03-10-2011, 09:07 PM   #5
Thinks s/he gets paid by the post
Join Date: Aug 2004
Location: Houston
Posts: 1,406
Some good info in this thread:

I'm getting too much cash
soupcxan is offline   Reply With Quote

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
Strategy for Roth 401k to Roth IRA conversion and withdrawals sweng85 FIRE and Money 9 04-21-2009 10:28 PM
Conversion of Traditional IRA to ROTH packrat44 FIRE and Money 19 08-19-2007 12:36 PM
Traditional IRA to Roth Conversion Question Dog FIRE and Money 5 03-10-2007 09:53 PM
Conversion of Traditional IRA to Roth Steps. riskadverse FIRE and Money 6 10-08-2006 08:44 AM
Traditional IRA to ROTH conversion charlie FIRE and Money 8 02-13-2006 05:52 PM


All times are GMT -6. The time now is 02:21 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.