Word: reconverted
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Dates: during 1990-1999
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...without knowing whether they qualified for the Roth the opportunity to correct their error. Many rushed to convert in 1998 because of a one-time grant to spread the resulting tax over four years. The effect, though, was to extend the period in which you can unconvert and then reconvert to the Roth. You'd want to do that if your IRA's value is much lower now than when you originally converted. It can save a bundle in taxes. You lose the ability to spread the tax over four years, but you can approximate that benefit by converting...
...says Dewi Fortuna Anwar, a senior adviser to Habibie. A compromise had to be found, and Wahid was its vehicle. "He plays high-class politics beautifully--with both friends and foes," says Ahmad Suhelmi, lecturer in politics at the University of Indonesia. Wahid's first task will be to reconvert Megawati from a foe back into a friend...
...least 10 years, and can pay the tax without dipping into IRA funds, you should convert. By doing so before year-end, you get to spread the resulting tax bill over four years. If you've already converted and find that your stocks or funds have fallen in value, reconvert to cut your tax bill...
...high, why not do it again? You have to pay taxes on the value of your portfolio at the time of the big switch, so now that the Dow has gone south, it might be wise to roll back into a traditional tax-deferred IRA and then instantly reconvert into a tax-free Roth, potentially lightening your tax load come next April 15. But don't wait too long to roll over: the IRS could amend the rules this fall to restrict the tricky savings maneuver...