SIMPLE IRA

[nick...@gmail.com]

I have $10K in a Simple IRA. Can I convert this to a ROTH IRA? How. I
want to pay the tax with not IRA money. Limitations?

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[removep...@yahoo.com]

On Dec 17, 8:18�am, "nickra...@gmail.com" <nickr...@gmail.com> wrote:

> I have $10K in a Simple IRA. Can I convert this to a ROTH IRA? How. I
> want to pay the tax with not IRA money. Limitations?

See form 8606. Part II is "2009 Conversions From Traditional, SEP, or
SIMPLE IRAs to Roth IRAs".

http://www.irs.gov/pub/irs-pdf/f8606.pdf

In publication 590 I find that you can do the conversion if your
modified AGI is less than 100k, though in 2010 this limit will be
removed. There might be other restrictions. I didn't read through
the whole thing.