T-IRA to Roth conversion
Can someone let me know what IRC Section governs the “pro-rata” rule that applies to T-IRA to Roth conversions?
I have an indvidual that is holding strong staing a T-IRA account holder can avoid the pro-rata ruling by establishing multiple IRAs.
Thank you
Permalink Submitted by Alan - IRA critic on Tue, 2013-08-13 18:58
Sec 408(d)(2) clearly states that all IRA accounts are to be treated as 1 contract. This is also addressed starting on p 40 of Pub 590 and in the instructions for Form 8606.