It looks like the IRS will allow direct rollovers from 401k type accounts to Roth IRAs beginning in 2008.
http://www.irs.gov/pub/irs-tege/rollover_chart.pdf
http://www.irs.gov/pub/irs-tege/rollover_chart.pdf
NinjaPigeon said:Isn't the math on that funny though? Like when you do a conversion to a Roth, and you already had some money in one, your tax amount is calculated based on the total amount of ALL your IRAs when you do the conversion.
Entire topic makes my head hurt when I read about it
When I complained about this once on Ed Slott's IRA Help forum, about six CPAs stomped on me for being too anal retentive analytical nuclear about it and told me to just plug through Form 8606.NinjaPigeon said:Isn't the math on that funny though? Like when you do a conversion to a Roth, and you already had some money in one, your tax amount is calculated based on the total amount of ALL your IRAs when you do the conversion.
Entire topic makes my head hurt when I read about it