ErnieS0
Expert Alumni

Retirement tax questions

The IRS does not allow you to "cherry pick" when converting a traditional IRA into a Roth.

 

If you have other tax deferred IRAs then the IRS considers the conversion to be coming from multiple accounts even if you only converted one. This means, for accounting purposes, even if your emptied out one account, the conversion is considered to have come from all your accounts.

 

You can read more about this at IRA Aggregation Rule: When Many IRAs Become One

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