Guest dahuse0603 Posted March 18, 2010 Posted March 18, 2010 If I rollover funds from a Traditional IRA to a Roth IRA before April 15, 2010, can I apply it to the 2009 tax year (1040A, Line 11a)? I know contributions can be applied, but not so sure on rollovers. Thanks.
Guest Sieve Posted March 18, 2010 Posted March 18, 2010 No. Conversions are distibutions in the year of the conversion--which, if I understand your post, was in 2010. So, you have the choice to include in income in 2010, or include half in 2011 & half in 2012. A contribuiton (not conversion) between January 1 & April 15, 2010 starts counting years towards the 5-year distribution rules with 2009.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now