Roth IRA conversion

Yes 2010, unless they change their mind. An AGI of 'several hundred thousand' put one in the highest current brackets, 33 or 35%. Likely, no benefit to conversion to a Roth. The largest benefits of Roth use or conversion to Roth have to do with taking income at a lower rate vs deferring at a higher rate. A typical earner will retire in a lower tax bracket than while they worked. The math shows that one can amass over $2 million and remain in the 15% bracket at retirement.

There is a social security tax anomaly to be aware of, where one hits a phantom rate on their SS benefits, as one half their SS benefit plus their taxable income (as from IRA/401(k)) passes $32K for a couple. This creates a pretty tight range of people impacted who can still avoid this anomaly.

The conversion works well for a retiree who can use it to 'top off' their current bracket each year so RMDs don't force them into a higher bracket later on. Or, to execute a similar strategy while working if one's income is variable, or during times of unemployment.

JOE