What are the rules for a traditional ira?

Earned income is a requirement to contribute to a traditional IRA, and your annual contributions to an IRA cannot exceed what you earned that year. One method of conversion is to take a distribution from the traditional IRA and contribute it (reinvestment) to a Roth IRA within 60 days from the date of distribution. This amount is used to determine your deductibility for the traditional IRA or your eligibility for Roth IRA contributions.