The New Roth Rollover Rules Explained

Kimberly Lankford answers readers' questions about the new rules that take effect in 2010.

I've been getting a ton of questions from readers about the new Roth IRA rollover rules that take effect in 2010, when anyone will be able to convert their traditional IRA to a Roth regardless of their income. (You can make the switch now only if your adjusted gross income is less than $100,000, whether married or single.) To help you understand how the new rules work, here are the answers to several key questions I've received.

How do you calculate how much money will be taxed when you make the conversion?

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Kimberly Lankford
Contributing Editor, Kiplinger's Personal Finance

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.