[eastexsteve]

The extra 12,000 in deductions for myself and my wife will definitely help. Although, trying to use it to convert some traditional IRAs to Roth IRAs wouldn't help our bottom line as much. At least, not this year.

But remember, this tax break is only guaranteed for the next four years. Use it to your advantage ASAP.

[plsvn]

Although, trying to use it to convert some traditional IRAs to Roth IRAs wouldn't help our bottom line as much.

Depending upon what your different sources of income are, the more IRA you convert to a Roth the less deduction you end up with since the deduction decreases as income increases beyond incomes 75k individual and 150k couple. Be careful!