I have an IRA that I inherited from my mother but currently have no other IRA funds (I do have some money in a 457 deferred compensation plan with my employer - and a pension - and I am still working). I do not qualify for a deductible IRA or a ROTH IRA. My plan is to open a non-deductible traditional IRA for $6,000 before April 17, 2012 (nothing like waiting until the last minute - I assume opening one on the internet and authorizing an electronic transfer from my checking account will still make the deadline) and then convert it to a ROTH as long as the inherited IRA will not have to be included in calculating any gain on the conversion. Am I correct that the inherited IRA is not included in the pro rata calculation of any gain on the conversion of the traditional IRA to a ROTH? I already filed my 2011 taxes - and got my federal and state refund checks back - am I correct that as long as I open the traditional nondeductible IRA before midnight on the 17th of April, 2012, it will count for 2011? In other words, I did not have to open it before I filed my taxes, did I? Someone thought I did. That sounds wrong to me but who ever said tax code made sense. And then I will have to file an amended tax return for 2011 so I have a Form 8606 showing what I did? I have 3 years to do that (I am not going to wait for the last minute - I am going to do it promptly as soon as I can see that this went through with teh custodian but I think I have 3 years). And this conversion will be reported in 2012 when I do my 2012 taxes? And that this conversion does not have to take place before April 17, 2012? And then later this year, I can open a non-deductible traditional IRA for 2012 - and convert it to a ROTH in 2012 and report all of that on my 2012 taxes? Do I have to wait any length of time to convert the IRA contribution for either 2011 or 2012? Do I have to wait until 2013 to convert my 2012 ROTH? Should I wiat until 2013 to convert? Will converting 2 of these in 2012 make a mess of the paperwork for the IRS? Any other advice on how to handle this? Or should I just forget about 2011 and do it for 2012? I would really like to sock away $12,000 in a ROTH IRA while I have the cash. You were terribly helpful on this board when I inherited the IRA from my mother. Thanks!