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Trad IRA conversion to Roth IRA in 2023 for 2022 taxes

I bought an EV in 2022 and had a charger installed. I have more unused tax credit than expected and want to take advantage.

 

Can I convert my traditional IRA to my Roth IRA this month (January 2023) and include the taxable portion on my 2022 tax return?

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Accepted Solutions
MinhT1
Expert Alumni

Trad IRA conversion to Roth IRA in 2023 for 2022 taxes

No.

 

If you convert your IRA into a Roth IRA in January 2023, that taxable event can only be reported on your 2023 tax return.

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1 Reply
MinhT1
Expert Alumni

Trad IRA conversion to Roth IRA in 2023 for 2022 taxes

No.

 

If you convert your IRA into a Roth IRA in January 2023, that taxable event can only be reported on your 2023 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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