$100,000 income limit for converting Traditional to Roth. How to get around it?

#1 04-29-2006, 09:18 AM

me[at]helpmefigurethisout.com wrote:

- quote -

> I am self employed. I want to convert my SEP IRA into a Roth
> IRA but it appears that I will be over the $100,000 income
> limit this year (as well as next year, the year after, etc).
> Is there a legal way to get more than $4000 per year into
> my Roth IRA? Or will I just have to deal with it.

You can always take a break from work such that your income
drops below the MAGI threshold to make the conversion.
Other than that, you can not convert.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

04-29-2006, 08:59 AM

me[at]helpmefigurethisout.com wrote:

- quote -

> I am self employed. I want to convert my SEP IRA into a Roth
> IRA but it appears that I will be over the $100,000 income
> limit this year (as well as next year, the year after, etc).
> Is there a legal way to get more than $4000 per year into
> my Roth IRA? Or will I just have to deal with it.

Sorry, you will have to deal with it. NO Roth contributions
or conversions. Or make less money.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

#-1 04-28-2006, 06:27 AM

I am self employed. I want to convert my SEP IRA into a Roth
IRA but it appears that I will be over the $100,000 income
limit this year (as well as next year, the year after, etc).
Is there a legal way to get more than $4000 per year into
my Roth IRA? Or will I just have to deal with it.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

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