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Get your taxes done using TurboTax
You should be OK with that.
The conversion from a traditional IRA to a Roth IRA is NOT considered a contribution....but the conversion does add to your taxable income (unless some portion of the traditional IRA contributions were not deductible). Thus, some folks do the conversions over a couple years to keep taxes down.
In case it matters, remember that you do normally need working income (W-2 wages or self-employed profit) in order to make the Roth IRA contribution itself.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎December 25, 2023
5:13 AM