IRA/ROTH IRA conversion | Ed Slott and Company, LLC

IRA/ROTH IRA conversion

Hi! My is gloria and I have an 401 k from former employer that I plan to rollover to an IRA this month. I am over 59 1/2 and would like to know what would be the best strategy to get distribution from my IRA to give to my children with the minimum tax consequence. Could you please explain the EGGTRA-IRA/ROTH IRA's Conversion features and benefits if done on 2010. Can I rollover my 401-k to an IRA and then do the convertion to ROTH on 2010. Do I have to pay taxes on the conversion. How long do I need to hold the Roth to get tax-free benefit. If I take systematic withdrawals, would that exempt me from payin on the gains. Thank you and looking forward to response. Gloria

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