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Roth IRA conversion

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S

Seanscott

Member
I have about $7,000 in a regular IRA and I wish to convert it to a Roth IRA. If I withdraw this money, can I put the whole $7,000 into a Roth this year, or am I limited to $3,000 per year?

Should I just keep my regular IRA and start a new Roth IRA? Is it legal to own both.

Thanks for your time.
 


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