Discussion:Deadline for converting to a ROTH
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Discussion Forum Index --> Basic Tax Questions --> Deadline for converting to a ROTH
Discussion Forum Index --> Tax Questions --> Deadline for converting to a ROTH
| 26 February 2009 | |
| Would someone please point me to authority that states that a traditional IRA must be converted by December 31 in order to include the income on that year's return?
I have spent waaaaaay too much time on this. thanks | |
Seaside CPA (talk|edits) said: | 26 February 2009 |
| Try Sec. 408A(d)(3)(A)(i). | |
| 26 February 2009 | |
| Seaside...thanks. I read the section and regs under ยง408A prior to asking the question and even with your reference, I still ain't seeing the answer. | |
Seaside CPA (talk|edits) said: | 26 February 2009 |
| If a taxpayer converts or rolls over from a traditional IRA to a Roth IRA, taxpayer must include in gross income -- for the year the distribution or transfer occurs -- any prior deductible contributions and all the earnings allocable to the converted amount. | |
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