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Reversing an IRA conversion


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Posted

I need to know the last date that I have to reverse a conversion from an IRA to a Roth IRA. My accountant has advised me that my AGI may be more than $100K for 1998. I have converted one IRA to a Roth IRA. So if, in fact, my AGI is in excess of $100K for this year I will need to reverse my conversion to the Roth IRA. My accountant thought that I probably had until 4/15/99 to make the reversal, but he wasn't sure.

Posted

You have until the EXTENDED due date. That would be 4/15/99 if you file by the normal due date, but could be as late as 10/15/99 if you file for extensions.

Barry Picker, CPA/PFS, CFP

New York, NY

www.BPickerCPA.com

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