2010 Roth Conversions
On May 17, 2006, President Bush signed the Tax Increase Prevention Reconciliation Act of 2005 into law. This tax bill included a provision dealing with conversions of traditional IRAs to Roth IRAs. Starting in 2010, the existing $100,000 income test for converting a traditional IRA to a Roth IRA will no longer apply. Conversions that occur in 2010 only will be able to have half of the taxable converted amount taxed in 2011 and the other half in 2012.
<< back
|
|
|