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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Colin Cody who wrote (690)3/1/1998 5:15:00 PM
From: Spots  Read Replies (1) of 5810
 
I have a similar question (though nobody recommended it).

I've been considering creating a non-deductible 97 IRA
and rolling it immediately to a Roth. First reason is
that (potentially) I could get more into Roths in 98
by, in effect, putting in contributions from both 97
(via rollover) and 98 (via direct contribution).

Second, although normally I wouldn't come anywhere close to
exceeding the income limit for Roth contribution in 98,
I also need to do some serious portfolio rebalancing
which could potentially raise income due to capital
gains. That would (I guess) restrict my ability to
contribute to a Roth in 98, so in that event a rollover
from 97 would be my only Roth entry for the two years.

BTW, I can't contribute to a deductible IRA anyhow.

None of this tries to take advantage of the 4-year loan
(which I don't qualify for anyhow).

Any insights?
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