topic IRA conversion in Retirement tax questions

IRA conversion

amcnolan — Tue, 06 Apr 2021 16:25:25 GMT

I am going to convert funds from a traditional IRA to a Roth IRA before May 17th, 2021 for the 2020 tax year. I do not have a 1099. How do I report this?

Re: IRA conversion

macuser_22 — Tue, 06 Apr 2021 16:31:33 GMT

You cannot do that. The last day to do a 2020 conversion was Dec. 31, 2020. Any conversion after that is a 2021 conversion reported on your 2021 tax return next year.

You are confusing a conversion with a *contribution* that can be made up to the 2020 tax return due date. Conversions are reported in the year that the conversion took place.

Re: IRA conversion

amcnolan — Tue, 06 Apr 2021 16:36:02 GMT

Thanks