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markc30
New Member

Can I convert a traditional IRA into a Roth in 2017 that can be credited for 2016?

Or do I have to start planning and estimating how much I can convert without moving into a higher tax bracket for 2017?
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1 Best answer

Accepted Solutions
MargaretL
Expert Alumni

Can I convert a traditional IRA into a Roth in 2017 that can be credited for 2016?

No, you cannot. unfortunately.

The deadline for Traditional to Roth conversion is Dec 31st. 

You are correct - start planning -if you convert (and there is no limit), the converted amount is added to your ordinary income, possibly moving you to a higher tax bracket.

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1 Reply
MargaretL
Expert Alumni

Can I convert a traditional IRA into a Roth in 2017 that can be credited for 2016?

No, you cannot. unfortunately.

The deadline for Traditional to Roth conversion is Dec 31st. 

You are correct - start planning -if you convert (and there is no limit), the converted amount is added to your ordinary income, possibly moving you to a higher tax bracket.

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