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taiwan52
New Member

Rorh IRA tax

After I used TurboTax to file my 2019 tax, I realize that I could have Roth IRA for 2019.

 

I paln to convert $7,000 from traditional IRA to Roth IRA for 2019 in March 2020.   Do I pay tax on this amount for 2019 or 2020?

 

Thanks.

 

CM 

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‎February 23, 2020 11:58 AM
last updated ‎February 23, 2020 11:58 AM
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DanaB27
Expert Alumni
Expert Alumni

Rorh IRA tax

You will pay taxes in 2020 on this conversion since the conversion takes place in 2020. You will get a 2020 1099-R for this conversion and report it on your 2020 tax return next year.

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‎February 24, 2020 3:55 PM
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