Guest captain hero Posted April 3, 2007 Posted April 3, 2007 Hello, I was wanted to convert my $3000 in my rollover IRA into my Roth IRA. I was wondering if that would be considered part of my 2007 contribution limit of $4000, or not? Do conversions count as contributions? Thanks!
John G Posted April 3, 2007 Posted April 3, 2007 No. Conversion math is separate from contribution math. A conversion does not count against you annual max contribution. But, note that these actions have separate qualifications/eligibility. Pick up a copy of IRS Publication 590 and keep it on hand. Captain hero? Great moniker.
Guest captain hero Posted April 3, 2007 Posted April 3, 2007 No. Conversion math is separate from contribution math. A conversion does not count against you annual max contribution. But, note that these actions have separate qualifications/eligibility. Pick up a copy of IRS Publication 590 and keep it on hand.Captain hero? Great moniker. Thanks John!
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