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To: straight life who wrote (91)10/1/1998 4:36:00 PM
From: Kenneth V. McNutt  Read Replies (1) | Respond to of 2737
 
Taichi;
How about all the people (but especially me) that transferred their regular IRA into a
Roth IRA and now must pay huge sums in tax on equity that's already melted away, and
is actually a loss in some cases?????
I believe Congress recently passed a law to cover that exact situation, meaning you can revert your converted IRA from Roth back to a regular IRA and recover the tax paid. This is just from a flash memory so call your CPA. Your welcome. K



To: straight life who wrote (91)10/2/1998 6:58:00 AM
From: Jeff Vayda  Read Replies (1) | Respond to of 2737
 
Taichi:

Check out this link: rothira.com

Seems you are able to convert back and forth between IRAs effectively wiping out the tax penalties.

Jeff Vayda

P.S. Due to the market drop, I will be able to incrementally transfer conventional IRA stocks into Roth accounts as the prices recover and not pay any taxes. :-)


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