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IRA conversion could cost in the end [GazetteXtra]

Thursday, January 14, 2010 - 7:13 PM
From GazetteXtra news:
The new federal rules allow people of all income levels to convert traditional IRAs to the Roth IRAs, which offer an advantage of tax-free withdrawals.

Miser said Wisconsin didn't adopt the federal rule. That means investors who make conversions could pay an initial penalty of as much as 5.3 percent of the money they transfer and 2 percent a year from then on.
So make sure to check your state rules if you're planning on this conversion.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
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