Can I roll my SEP IRA into a Traditional IRA or should I convert to a Roth?

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You can roll an SEP into an IRA. If you have multiple IRAs and won't make any further contributions to a SEP, this simplifies management and record keeping. If it is your only IRA, why bother?

It can be converted to a ROTH if you pay the taxes on the value. Generally, Roth conversions are attractive if you can do it at a tax rate that you think will be lower than the one you will pay on the withdrawals in the future.You can also pay the tax from outside resources.

March 2008
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