IRA Conversions Are There a Need For This to Be Implemented?

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IRA Conversions Are There a Need For This to Be Implemented?

If you have existing IRAs and you want them converted to a Roth IRA this would be possible and the IRS will accommodate such request. But you must be careful and you should bear in mind that if you have multiple IRAs the IRS would treat them as one. It will be complex as it is tricky. There will be a possibility that you will be paying more than you should depending on the outcome of the computations. There are things that you need to do and consider.

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