Who is converting traditional ira to roth ira

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Reference no: EM132039590

1. If in a discussion of the conversion steps and outcomes with an individual who is converting a traditional IRA to a Roth IRA which is (are) true?

I. Such conversions can be done with no income tax consequences.

II. Qualified distributions from a Roth IRA after a conversion are received tax-free.

1. I only

2. II only

3. both I and II

4. neither I nor II

2. The projection of the sales figure is significant for financial projections of a new venture when undertaking preliminary evaluation primarily because it affects the:?

Balance Sheet / Cash Flow Projection / Profit & Loss Statement / All of the above

Reference no: EM132039590

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