In 2006, President Bush signed the Tax Increase Prevention and Reconciliation Act into law. Starting in 2010, a specific provision in the law allows anyone to convert a traditional IRA to a Roth IRA regardless of their income level. In addition, if you make a conversion in 2010, for tax purposes, you’ll be able to report half the income from the conversion on your 2011 tax return and the other half on your 2012 return.
@ Bradenton Herald | Posted: 10/06/09 at 0419 EDST
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