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traditional ira conversion to Roth ira.

Everything I read states moving traditional ira to roth ira has a limit of $7000.00.  What if you move more than $7000.00?

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1 Reply
AnnetteB6
Expert Alumni

traditional ira conversion to Roth ira.

There is not a dollar limit for converting a Traditional IRA to a Roth IRA.  The dollar limit comes into play for IRA contributions not conversions.  A conversion is not considered a contribution.  

 

Conversions from a Traditional IRA to a Roth IRA may or may not be taxable, depending on the basis of the Traditional IRA that is being converted.  

 

 

@logemanngregsue

 

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