Date:  Wed, 22 Mar 2006
From:  Clarence

I converted nearly all of my retirement savings into a Roth IRA in 2005.

May I pay my taxes in four annual installments, or was that rule only for conversions in 1998?

Thank you, sir!

Clarence

Answer

Date:  Mon, 03 Apr 2006

Hello Clarence,

The ability to pay income taxes on a Roth conversion in four installments is no longer available. It only applied for conversions made during 1998.

Good luck!
Mike Gray

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