AnnetteB6
Expert Alumni

Retirement tax questions

You will need to report the value of all of your IRA accounts.

 

The distribution from the Traditional IRA which was converted to a Roth IRA will be subject to the pro rata rule.  This means that a portion of the distribution will be considered to be from pre-tax funds and a portion will be considered to be from after-tax funds.  Therefore, the conversion to the Roth IRA is not a tax-free event.  

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