Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Colin Cody who wrote (742)	3/10/1998 12:30:00 AM
From: Mike McFarland	Read Replies (1) of 5810

Roth IRA question: Up through 1997 my IRA didn't do squat, six years of contributions accumulated but no significant gains... Happily this year I have watched my IRA brokerage account more than double with a couple of good and lucky trades these past two months, but now there is this Roth IRA. What will be the tax consequences of rolling my IRA into a Roth? Am I going to have to pay taxes on my good fortune this year, that would suck! (Oh please somebody tell me that the conversion only effects everything up til Dec 31st, 1997)

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