DanaB27
Expert Alumni

Other financial discussions

Yes, the conversion from traditional IRA to Roth IRA is taxable income and included in your adjusted gross income (AGI).

 

If you have an AGI of up to $75,000 ($150,000 married filing jointly), you should be eligible for the full amount of the recovery rebate. As your AGI increases, the stimulus amount you get will go down. The stimulus check rebate completely phases out at $99,000 for single taxpayers, $146,500 for those filing as Head of Household and $198,000 for joint filers with no kids.

 

The stimulus check will be paid this year based on information from your most recent tax return and will be reconciled in tax year 2020 to ensure you received the correct rebate amount. 

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