Tax year event

Jm759 · ‎October 25, 2023

I was wondering if we could convert rollover IRA money to a Roth account between January and April 2024 and put this on our 2023 Taxes. This money was from my husbands retirement 401(k) account before it was rolled over into an IRA.

Andrew_W · ‎October 25, 2023

Hello @Jm759,

IRA conversions are generally reported in the calendar year that the conversion occurs. If you were to convert between January and April 2024, the conversion would be included in the 2024 tax year.

If you wish to have the conversion be accounted for in 2023, the conversion would need to occur before the end of 2023 (December 31, 2023).

Here is some additional information regarding Traditional or Rollover IRA to Roth IRAs conversions: What are traditional IRA to Roth IRA conversions?

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