Location: Westland, Michigan, United States

Graduate of Walsh Institute Of Accountancy (Now Walsh College) Michigan in 1959. Retired in 1987, but still active in the profession **World War II Veteran (Pacific) **PHONE 734-261-1979 **E-MAIL **(Domain Name CPASENSE Registered) **Mentioned in the Journal of Accountancy, SmartPros, Tax Prof Blog, CPA2BIZ, CPA Journal, AccountingWEB, CPATrendlines & More **Search Accounting Blogs: (Includes cpasense)**TOPICS - FINANCE - FEDERAL & MICHIGAN TAXES ** Making Sense Of Your Finance & Taxes

Monday, January 10, 2005

IRA Conversions To Roth IRA - 2005

Effective Januay 1, 2005, a tax-law change concerns an income test (Seniors) for IRA conversions to a Roth IRA. As in the past, people can make the switch only in a year when their modified adjusted gross income -- not including income generated by the conversion itself -- doesn't exceed $100,000. But now, required minimum distributions - age 70 1/2 - from traditional IRAs no longer count toward that figure.


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