Rollover to Roth IRA in 2010

For individuals who cannot contribute to Roth IRA because of MAGI limits, there is one more way of contributing to Roth IRA. Come 2010 all traditional IRA contributions can be transferred over to Roth IRA. So, for 2007, 2008 and 2009 you can make a non-deductible contribution to a Traditional IRA account and then in 2010 and 2011 roll it over to Roth IRA. Agreed that it does not make sense to contribute to traditional ira and not claiming deduction on income tax return but the opportunity to later rolling it over to Roth IRA is hard to pass.

For further information read Suze Orman’s Article.

This entry was posted on 14 Mar 2008 at 14:21 and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.