Quick question on Roth Conversions. With equities depressed; this may be an ideal time to do roth conversions.
I realize there are income limitations for Roth contributions.
My question is on Roth Conversions.
I can convert as much as I want from a TRad. IRA to a Roth Ira? Correct?
Whether the amount is $10,000 or $1,000,000 there is no limit on the amount converted?
I understand taxes will be due for the tax year the conversion takes place. My question is : there are no restrictions, income limitations, etc. on the AMOUNT one wants to convert? Thank you.
I realize there are income limitations for Roth contributions.
My question is on Roth Conversions.
I can convert as much as I want from a TRad. IRA to a Roth Ira? Correct?
Whether the amount is $10,000 or $1,000,000 there is no limit on the amount converted?
I understand taxes will be due for the tax year the conversion takes place. My question is : there are no restrictions, income limitations, etc. on the AMOUNT one wants to convert? Thank you.