May conversions be made from traditional IRAs to Roth IRAs without considering the AGI limit?
Rev. 08/23/07, E-mail Alert 2007-11

Beginning in tax year 2010, the answer is yes. The Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA), enacted in 2006 contains this change.

Until 2010, a regular IRA may not be converted to a Roth IRA if the individual taxpayer's AGI exceeds $100,000. Starting in 2010, an individual can convert a traditional IRA to a Roth IRA without having to consider the AGI level.

TIPRA permits individuals to convert a traditional IRA to a Roth IRA in 2010, and either pay all the tax in 2010 or defer paying the tax. If deferring, TIPRA would require tax on half of the conversion amount in 2011 and half in 2012.