The app allows you to have multiple currencies saved, so when you enter an amount into your home currency,
multiple conversions pop up.
If you're under age 59 1/2 and you have one Roth IRA that holds proceeds
from multiple conversions, you're required to keep track of the 5 - year holding period for each conversion separately.
Instead of just one conversion or
multiple conversions into one Roth IRA account, separate conversions into separate Roth IRA accounts can be done — either by asset type or even by individual investments.
If you're under age 59 1/2 and you have one Roth IRA that holds proceeds
from multiple conversions, you're required to keep track of the 5 - year holding period for each conversion separately.
Multiple conversions would lead to multiple stages of quantisation and data compression.
It is also important to ensure that dividing a conversion into multiple accounts doesn't needlessly incur additional fees, such as minimum balance fees or additional tax preparation costs.The cost, in terms of time and effort, of keeping track of the paperwork for
the multiple conversions and accounts should also be considered.
It is, of course, too late now to arrange
these multiple conversions — but not too late, for couples where both did Roth conversions in 2010, to consider whether it might work best for one of them to elect out of the deferral rule and, if so, which one.
The conversion rider should allow you to convert the term coverage to any permanent policy the insurance company offers with no restrictions (i.e., having to convert by a certain age during the first five to 10 years that the term policy is in force, or limiting partial or
multiple conversions).