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Are there income limits for conversion of funds from a Traditional IRA to a Roth IRA?

April 26, 2017conversion funds income limits roth ira Traditional IRA

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Are there income limits for conversion of funds from a Traditional IRA to a Roth IRA?

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Yes. You may convert all or part of your IRA assets into a Roth IRA, provided that your modified adjusted gross income (MAGI) for the transfer year is less than $110,000. This $110,000 limit with respect to Roth IRA conversions applies to both individuals and married couple filing jointly. If, however, you are a married couple filing separately, you are not permitted to convert your traditional IRA to a Roth IRA, regardless of your MAGI.