Roth IRA conversion and contribution limits

dlgaud59 · ‎March 9, 2020

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.

macuser_22 · ‎March 9, 2020

Misread question.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

dmertz · ‎March 9, 2020

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.