Hello. I have a $200k fixed indexed annuity that compounds interest each year and is financed with Traditional IRA funds. Can I begin converting any of it to a Roth? (I’ve met the 5 year Roth conversion rule.)
Yes, you can convert the annuity providing the insurance company provides for partial conversions of the contract. Not sure what you meant by the 5 year rule, since you can convert a TIRA anytime you wish.
The following link explains the procedure for valuation (1099R amount) for an IRA annuity. Since the company has 4 options for valuation, you might want to get a quote on the value before proceeding.
Permalink Submitted by [email protected] on Tue, 2020-07-28 04:31