Converting to a Roth IRA could allow a taxpayer to reduce their income tax obligation in the long run by paying the taxes up front on a smaller balance.

In a traditional IRA you can begin taking distributions after age 59 ½ if you wish to avoid early distribution penalties. There are mandatory distributions from a traditional IRA beginning at age ...

The amount of a contribution to both a traditional IRA and a Roth IRA is the lesser of $7,000 per taxpayer or the earned income of the taxpayer […] Skip to content All Sections ...