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When is the last day to covert Trad IRA to Roth? Where is it in the pub?
I've already converted $14,000 this year to a Roth in calendar year 2016. My overall income is much less this past year than expected, so I'd like to now convert more of my Trad IRA to my Roth IRA and pay taxes at the lower bracket in 2016 year. I can't find reference to the last conversion date in the pubs, but I know other typical IRA contributions/recharacterizations are due on tax day.
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When is the last day to covert Trad IRA to Roth? Where is it in the pub?
12/31/2016. Conversions are calendar year events. Unlike an IRA contribution or even a recharacterization, you can't do a conversion for 2016 in 2017.
A conversion is a distribution from an account- you are distributing from an IRA. Distributions can't happen after a year closes.
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When is the last day to covert Trad IRA to Roth? Where is it in the pub?
12/31/2016. Conversions are calendar year events. Unlike an IRA contribution or even a recharacterization, you can't do a conversion for 2016 in 2017.
A conversion is a distribution from an account- you are distributing from an IRA. Distributions can't happen after a year closes.
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When is the last day to covert Trad IRA to Roth? Where is it in the pub?
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