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Level 2
January 24, 2023
Solved

Trad IRA conversion to Roth IRA in 2023 for 2022 taxes

  • January 24, 2023
  • 1 reply
  • 31 views

I bought an EV in 2022 and had a charger installed. I have more unused tax credit than expected and want to take advantage.

 

Can I convert my traditional IRA to my Roth IRA this month (January 2023) and include the taxable portion on my 2022 tax return?

Best answer by MinhT1

No.

 

If you convert your IRA into a Roth IRA in January 2023, that taxable event can only be reported on your 2023 tax return.

1 reply

MinhT1Answer
Level 15
January 24, 2023

No.

 

If you convert your IRA into a Roth IRA in January 2023, that taxable event can only be reported on your 2023 tax return.

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