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I made a Non-Deductible Post Tax contribution to a Traditional IRA for 2020 tax year. Would I be able to convert it into Roth IRA now in April 2021?

 
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AnnetteB6
Employee Tax Expert

I made a Non-Deductible Post Tax contribution to a Traditional IRA for 2020 tax year. Would I be able to convert it into Roth IRA now in April 2021?

You can convert it to a Roth IRA at any time.  If the conversion is done in April of 2021, then you will receive a Form 1099-R for 2021 that will be reported on your 2021 tax return that you will prepare in early 2022.

 

Since the non-deductible Traditional IRA contribution was made for 2020, be sure that it is being reported on your 2020 tax return.

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1 Reply
AnnetteB6
Employee Tax Expert

I made a Non-Deductible Post Tax contribution to a Traditional IRA for 2020 tax year. Would I be able to convert it into Roth IRA now in April 2021?

You can convert it to a Roth IRA at any time.  If the conversion is done in April of 2021, then you will receive a Form 1099-R for 2021 that will be reported on your 2021 tax return that you will prepare in early 2022.

 

Since the non-deductible Traditional IRA contribution was made for 2020, be sure that it is being reported on your 2020 tax return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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