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Level 1
posted Jan 24, 2023 8:14:20 AM

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?

0 1 717
1 Best answer
Expert Alumni
Jan 24, 2023 8:28:04 AM

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.

1 Replies
Expert Alumni
Jan 24, 2023 8:28:04 AM

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.