Question regarding the conversion process that removes the income limit for ROTH IRA's in 2010.?

I am not eligible for a ROTH IRA, but I have read of the provision that allows the converting of a non-deductible IRA to a ROTH IRA in 2010. The question is this: once I convert the funds in 2010 to a ROTH IRA, can I contribute to the ROTH account going forward or will I still not be able to since I do not meet the eligibility requirements? If I can only save for 2 years and then convert, but not able to put in more money, I do not think it would be worth it to convert. Does anyone know?

i would not make any financial moves on what is currently scheduled to happen in 2010. there could be many changes in congress (and president change) before then. that means current law could change many times before 2010.

keep saving and investing in taxable and non-taxable accounts but wait to see what happens with the Roth etc in 2009 and early 2010 before making any big moves. good luck.

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