My Brother will be graduating from Med school next year. His AGI will be close to zero for 2009. I mentioned he might want to convert all or some of his wife's 401k from her former employer. He wanted to know how the conversion would effect his Earned Income Tax credit. His wife has about $50K in her 401k. I assume any conversion amount is viewed as ordinary income and will therefore lower any credit he would receive--but I am hoping to hear the facts from someone more knowledgeable than my assumptions. Thanks for your help!