Congress lifted the income ceiling in 2010 for conversion of a traditional IRA to a Roth IRA. So lots of people are wondering if a conversion is a good idea. The answer is – as it so often the case – that it depends.
What’s the difference between the two types of IRAs? Contributions to a traditional IRA might be partially or fully tax deductable, so this type of retirement account has some or all of the balance subject to tax when the money is withdrawn. Also, with a traditional IRA, you are required to withdraw a portion of the …Read More