Can I Convert My Traditional IRA to a Roth IRA?

Yes — you can convert all or part of a traditional IRA to a Roth IRA at any time. The converted amount is added to your taxable income for the year and taxed at ordinary income rates — there's no 10% early withdrawal penalty on conversions. Conversions make the most sense in low-income years (like early retirement before Social Security or RMDs begin), or when you expect to be in a higher tax bracket in retirement. A partial conversion spread over several years can keep you in a lower bracket each year. Once in a Roth, the money grows tax-free and qualified withdrawals are never taxed again.