Roth Conversion?

[Guest erniet]

In process of converting spouse IRA to Roth prior to her reaching 701/2 in Oct.'03. I turn 701/2 in Nov & plan draw down my own 1st year's IRA which increases my AGI to over $ 100k.

Will the IRA withdrawal prevent spouse Roth conversion or can the IRA withdrawal be excluded from AGI when converting.

Thx

Erniet

[BPickerCPA]

You cannot exclude the IRA withdrawal. In fact, your wife has to take her first withdrawal prior to doing a Roth conversion since she will attain 70½ in 2003.