conversion timing

[Guest jgrat]

I would like to convert to my roth a portion of a trad. ira, which has ded. and non-ded. contributions. Since a portion will be taxable, can I make the conversion now (prior to 4/15/00) and include it on my 1999 tax return? Can't seem to find this issue addressed in the 8606 instructions. Thanks for any help.

john

[John G]

Last minute of the last millenia was the last chance you had to do a conversion in 1999.

You can convert any time in this calender year and it counts as a 2000 conversion. You must meet the income requirements for this year.

You can not convert just the non-deductable amounts. The proportion that is D and nonD is fixed by the totals. This percent applies to the amount you convert. To do this math you lump ALL of the IRAs for one person regardless of custodian, date of creation, etc.