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Reply to "Roth Conversion later in life, near retirement"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Am I missing something? I thought you had to convert everything in your traditional IRA at the same time. Is the strategy to roll over only part of your 401(k) to a traditional IRA to be converted to Roth each year?[/quote]I don't understand your question. I was referring to converting from Traditional IRA to Roth IRA. Your question about the 401(k) needs to be addressed to where your funds are held. [/quote] Yes, you can convert just a portion of your Traditional to Roth in any given year (does not have to be the whole thing). Pro rata rule does not come into play unless you a mix of pre-tax and post-tax funds in there, which is rare. You just pay income tax on the dollars that you convert.[/quote]
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