What are general rules on IRA roth conversions?

Answer 1

The rules on IRA roth conversions have been modified since 2010. In the new rules, there is a new tax structure which requires you to cover tax deductibles from you qualified employer-sponsored retirement plan like a 401(k). Another tax rule is the time frame in which you are allowed you withdraw money without another tax deductible penalty. This is mostly geared towards elders who are saving money for retirement.