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Old 06-03-2013, 06:09 PM   #41
Recycles dryer sheets
Join Date: Sep 2007
Location: Chicago
Posts: 221
That's my understanding. Before I pull the trigger, I'll be sitting down with a planner/accountant and really hash things out. It's surprising what holes there are.

In Illinois, retirement income isn't taxed - including rollovers. If you contribute directly to a RothIRA, you pay state income on the contribution. If you instead contribute to a deductible IRA and then roll it into a RothIRA, the money isn't taxed as income by Illinois.
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