Is there a limit on how much I can convert from a Traditional IRA to a ROTH IRA in a tax year? Can I make an IRA contribution in the same tax year as I convert funds?
02291
2 Replies
Bsch4477
Level 15
Apr 24, 2020 1:11:52 PM
There’s no limit to the amount of the conversion but remember that you have to pay tax on that amount. Yes, the conversion does not count against your IRA contribution limit.
macuser_22
Level 15
Apr 24, 2020 1:12:34 PM
No limit. You can convert the entire IRA if you want to.
Yes, the amount converted does not change the IRA contribution limits.