topic Roth IRA conversion and contribution limits in Deductions & credits

Roth IRA conversion and contribution limits

dlgaud59 — Mon, 09 Mar 2020 22:02:04 GMT

I did a conversion from Traditional IRA to my Roth IRA. Does that prohibit me from making a Roth IRA contribution for 2019 as well? The conversion was for more than the allowable annual contribution.

Re: Roth IRA conversion and contribution limits

macuser_22 — Mon, 09 Mar 2020 23:53:56 GMT

Misread question.

Re: Roth IRA conversion and contribution limits

dmertz — Mon, 09 Mar 2020 23:44:21 GMT

A conversion from a traditional IRA to a Roth IRA in a given year has no effect on the amount that you are eligible to contribute to a Roth IRA for that same year. Although the Roth conversion adds to your AGI, one of the modifications to AGI for the purpose of the limit on Roth IRA contributions subtracts the conversion amount back out.