Retirement Plans Overview Important Deadlines   Maximum Contributions 2009 & 2010   Early Withdrawal Penalties and Exceptions to the Penalties Early Withdrawals   Converting a Traditional IRA to a Roth IRA:  Beginning in 2010, everyone is eligible to convert a traditional IRA to a Roth IRA.  (In previous years taxpayers with modified adjusted gross income over $100,000 were not eligible.)  Even better, for conversions in 2010, the income can be reported in 2010, or you can choose to report half in 2011 and half in 2012.  Here's a good article that I found on the Charles Schwab website to help you decide if converting is a good idea for you.  2010 Roth Conversion: Look Before You Leap