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roth

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Last Updated On
Bybj

L1: roth Hi,
I am taking sepp on a traditional ira. I will run out/bust in 2 and 1/2 years. i am going back to work and want to save/preserve as much of the ira that I can.
I wondered if I could convert the traditional seppira to a roth to avoid paying taxes a second time on future investment on the income once I withdraw it.
it seems like unfair to have to pay this much in taxes.

thanks for your thoughts-
bj2003-11-20 09:17, By: bj, IP: [127.0.0.1]

L2: rothYou can”t convert a Traditional SEPP IRA to a Roth – at east not that I know of. And even if you could, you would have topay income tax on the full value in the IRA as you made the conversion. Talk to your accountant/advisor about opting for a change to the Minimum Distribution method in 2004 – it won’t eliminatethe problem, but it may help.2003-11-20 18:31, By: Gfw, IP: [127.0.0.1]

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