Folks:

We all know that if your income is too high, you cannot make a Roth contribution.  You CAN make a Traditional IRA contribution, but then you don't really get the benefits of the Traditional or the Roth.  But by making a nondeductible Traditional contribution followed by a Roth conversion, you can sidestep the income limits on funding a Roth conversion.

Great.

But I just noticed in Question 2 of Section 1.408A-4 of the Regulations:

"An individual with modified AGI in excess of $100,000 for a taxable year is not permitted to convert an amount to a Roth IRA during that taxable year."

Huh?  I thought that there were no income limits for Roth conversions.  What am I missing here?

Micah