Tax question regarding New 2006 IRA rule

Hi all--

I read somewhere saying high-income folks who never bother with an IRA because they can't qualify for either a Roth or a deductible Traditional IRA should contribute this year. Beginning in 2010 everyone can convert an existing traditional IRA into a Roth IRA regardless of income (until then, only individuals and couples with incomes below $100,000 are able to convert).That is like getting potentially a six-figure retirement nest egg that's absolutely tax-free (not tax-deferred).

Any CAP/tax expert want to enlighten us on this? Any pitfalls on this? Greatly appreciated!

所有跟帖： 

• 回複：Tax question regarding New 2006 IRA rule -煤格- ♂ (1719 bytes) () 02/15/2007 postreply 20:12:13

• Thank you very much! But if the AGI is too high, that new -MDGG- ♂ (257 bytes) () 02/16/2007 postreply 08:22:19

• 回複：Tax question regarding New 2006 IRA rule -煤格- ♂ (221 bytes) () 02/15/2007 postreply 20:26:18

• Thanks! I guess that's why Bush signed that (?) TIRPA -MDGG- ♂ (230 bytes) () 02/16/2007 postreply 08:29:28

• 回複：Thanks! I guess ... -煤格- ♂ (446 bytes) () 02/16/2007 postreply 10:17:23

• 回複：回複：Thanks! I guess ... -MDGG- ♂ (478 bytes) () 02/16/2007 postreply 18:58:16