No. You can't open a Roth IRA account. Conversion is an alternat

way of creating a Roth IRA account though. Conversion is not subject to income restrictions. 

The way I understand why the IRS leaves an open door is that the IRS needs imminent cash flow right now. The IRS created in 2010 such a mechanism to encourage wealthy individuals to roll over from traditional IRAs to Roth IRAs. Assuming many people opt to do so, the IRS can levy taxes right now on capital gains realized in the traditional IRA accounts which are to be rolled over to the Roth IRA accounts.

In your case, you don't have to pay any tax upon conversion because you have not yet made profits in your traditional IRA account.

所有跟帖： 

• 那是可以的。IRS并不限制开Roth IRA账户，但如收入高，不能直接放入钱而已。 -易木- ♂ (235 bytes) () 03/28/2016 postreply 10:24:13

• I did the same as you did. But my understanding is that -autumnjune- ♀ (243 bytes) () 03/28/2016 postreply 10:32:20

• Well, I have been doing this with Fidelity since 2010. I just di -易木- ♂ (139 bytes) () 03/28/2016 postreply 10:46:37

• That was a conversion, which is different. -autumnjune- ♀ (0 bytes) () 03/28/2016 postreply 10:56:43

• You are so persistent:) -易木- ♂ (201 bytes) () 03/28/2016 postreply 12:00:49

• Any limit on the amount you can contribute to traditional IRA -beachlver- ♂ (83 bytes) () 03/28/2016 postreply 10:25:09

• $5500 per individual for the year 2015, assuming you are below 5 -autumnjune- ♀ (120 bytes) () 03/28/2016 postreply 10:33:40

• Thanks! Didn't expect the limit is so low, but better than none -beachlver- ♂ (169 bytes) () 03/28/2016 postreply 10:50:46

• 谢谢。看来我提前的理解有误。那就是说 -稀里糊涂麻麻糊糊- ♀ (344 bytes) () 03/28/2016 postreply 13:31:50

• Ask your broker what to do. -autumnjune- ♀ (0 bytes) () 03/28/2016 postreply 14:34:51