Managing a high-income Roth conversion

Question: My wife and I are both by 50 and plan to convert $115,000 in traditional IRAs to Roth IRAs that year to take advantage of the one-year reprieve on income limits on conversions. Our question: can we each plus invent regular annual contributions to a Roth IRA that year? We earn about $100,000 a year combined, but we’re worried that the $115,000 of taxable income we’ll have to recognize considering of the conversion will put us by the income eligibility limit for annual Roth IRA contributions. Can you clear that up for us? — Bob, Souderton, Penn.

Original post by Technology news - Business 2.0 Magazine