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Can owners of a Traditional IRA convert it into a Roth IRA?

April 26, 2017convert owners roth ira Traditional IRA

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Can owners of a Traditional IRA convert it into a Roth IRA?

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Yes, married taxpayers filing jointly, and single filers with an adjusted gross income (AGI) of less than $100,000, can convert their Traditional IRA into a Roth IRA: They will be required to pay income taxes on the amount being converted in the year the conversion is completed. Paperwork to convert their Traditional IRA to a BlackRock Roth IRA can be found by downloading the Roth IRA Enrollment Kit.