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jmderick
New Member

If I convert a traditional IRA to my Roth IRA in February 2017, can it apply toward 2016 income? (In my case, 2016 is the best year for me to do the conversion)

 
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dmertz
Level 15

If I convert a traditional IRA to my Roth IRA in February 2017, can it apply toward 2016 income? (In my case, 2016 is the best year for me to do the conversion)

No, it is 2017 income.  You'll report the Form 1099-R for this distribution on your 2017 tax return.

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dmertz
Level 15

If I convert a traditional IRA to my Roth IRA in February 2017, can it apply toward 2016 income? (In my case, 2016 is the best year for me to do the conversion)

No, it is 2017 income.  You'll report the Form 1099-R for this distribution on your 2017 tax return.

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