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Retirement tax questions
A Roth conversion is not an ordinary contribution. Only ordinary contributions are subject to the contribution limit. The only ordinary contributions that you will have made will be $7,000 for 2023 and $7,000 for 2024, neither exceeding the $7,000 contribution limit. (Of course you must also have sufficient compensation each of these years to support a $7,000 contribution, otherwise you will have an excess contribution.)
‎April 10, 2025
4:18 PM