On January 1, 2010, the income restrictions that limited the conversion of retirement assets to a Roth IRA were eliminated. Now that anyone with qualified retirement assets can convert to a Roth, is it right for you?
Who should convert?
Since everyone’s situation is unique, you should carefully weigh the advantages and disadvantages of converting to a Roth – and we’re here to help you do that. Here are a few of the important aspects we can help you consider:
If you are considering a Roth conversion and would like more information on how it can affect your specific situation:
The tax information in this article is not intended to be used, and cannot be used, to avoid possible tax penalties. It was written to promote the products and services the article describes. Neither TIAA-CREF nor its affiliates offer tax advice. Taxpayers should consult an independent tax advisor for advice based on their own particular circumstances.
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Converting to a Roth IRA involves a number of important considerations and TIAA-CREF is here to help.