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- Title
The "Backdoor" Roth IRA.
- Authors
Adelman, Saul W.; Cross, Mark L.
- Abstract
The article presents information on converting a traditional Individual Retirement Account (IRA) to a Roth IRA. Although there is an upper limit to the modified adjusted gross income an individual can have and still contribute to a Roth IRA, there are exceptions to the conversion rules which may be useful in some cases. A comparison is drawn between the advantages and drawbacks of the two types of IRA. Examples are provided of how a conversion to a Roth IRA in 2010 could have a positive impact on the tax status of many individuals between the ages of 45 and 60 as of that year.
- Subjects
UNITED States; INDIVIDUAL retirement accounts; RETIREMENT planning; RETIREMENT income planning; FINANCIAL planning; TAX planning
- Publication
Journal of Financial Service Professionals, 2009, Vol 63, Issue 4, p10
- ISSN
1537-1816
- Publication type
Article