This article mentions that there is a bill which would signifigantly increase the AGI limit on Roth conversions.
Does anyone know the status of this bill or the bill number?
Why didn't Congress just use the same limit for starting a new Roth for the conversion??? My life would be much simpler.
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http://www.rothira.com/reymann.htm
"There is some support for increasing AGI caps for conversion IRAs. The Medical Health Bill proposed to increase the $100,000 AGI conversion limit to $145,000 for single filers and $290,000 for joint filers, and in doing so was projected to raise of revenue was $2.4 billion over 5 years. This increase of revenue generated by conversion makes it a possible addition to spending bills which need additional revenue in order to be balanced. "