How to Murder a 2010 Roth IRA ConversionHow to Murder a 2010 Roth IRA Conversion
Last year 2010 was the first year tax-deferred individual retirement accounts could be converted into tax-free Roth IRAs without having to worry about exceeding adjusted gross income (AGI) limits. Those who made the leap from a traditional IRA to a Roth IRA were betting that paying the tax now would be a small price to pay for tax-free returns and tax-free distributions of those returns for themselves
Michael J. Jones
Last year — 2010 — was the first year tax-deferred individual retirement accounts could be converted into tax-free Roth IRAs without having to worry about exceeding adjusted gross income (AGI) limits. Those who made the leap from a traditional IRA to a Roth IRA were betting that paying the tax now would be a small price to pay for tax-free returns and tax-free distributions of those returns for themselves and for their heirs, for many years into the future. They could also make regular Roth IRA contributions of after-tax dollars if they didn't exceed AGI limits. But these are difficult times. No doubt some Roth IRA investments went south instead of north, causing the luster to dull. Disenchantment can descend to murderous...
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