Ed Slott: Turn lemons into Roth conversion cash
If your client wants to convert his or her individual retirement account to a Roth IRA this year but doesn't have cash from non-IRA sources to pay the tax on the conversion, consider looking at his or her capital assets.
Many clients have significant amounts of unrealized losses from the turmoil in the financial markets.
Selling those assets can provide a “bank” of net capital losses. Then the client can sell some of his or her appreciated capital assets, which can be sheltered from tax by the net losses and in
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