Roth Conversion and Contribution in Same Year?
Can you do a Roth Conversion from a non-deductible IRA and also Contribute to a Roth based on income in the same year?
Can you do a Roth Conversion from a non-deductible IRA and also Contribute to a Roth based on income in the same year?
Permalink Submitted by Denise Appleby on Sat, 2008-04-05 20:13
Yes. Bear in mind that all of your traditional, SEP and SIMPLE IRAs are treated as one IRA for this purpose. Therefore, if you have balances (in any traditional IRA, SEP IRA or SIMPLE IRA) other than the amount you are converting, the conversion is pro-rated to include pre-tax and post-tax amounts.