Seven years ago, Mike Moore, who had spent his career repairing cars, decided he would like to own an electric car. So he decided he would convert a regular, gasoline-powered vehicle to electric power ...
A. There are a lot of rules that govern how IRAs work. Your mention of five years has to do with a provision that’s important to understand. The five-year rule for Roth conversions exists to prevent ...
A Roth IRA conversion moves money from a pretax retirement account to a Roth IRA. The amount you convert is taxed as ordinary income. There are several situations where a Roth IRA conversion may make ...
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