MargaretMort Posted March 23, 2011 Report Share Posted March 23, 2011 Are conversions from an IRA to a Roth allowed only in the year of conversion or can you declare the conversion for the present tax year? For instance, conversion in 2010 reported and taxes paid with 2009 tax return? Thanks. MM Quote Link to comment Share on other sites More sharing options...
Pacun Posted March 23, 2011 Report Share Posted March 23, 2011 Are conversions from an IRA to a Roth allowed only in the year of conversion or can you declare the conversion for the present tax year? For instance, conversion in 2010 reported and taxes paid with 2009 tax return? Thanks. MM You mean like in a desaster declared area where you can amend your previous return? Quote Link to comment Share on other sites More sharing options...
MargaretMort Posted March 23, 2011 Author Report Share Posted March 23, 2011 No, unfortunately. I have to assume this couple thought they could roll-over the IRA to a Roth in 2009 when his income was unusually low even though the roll-over didn't occur until 2010. The only thing I could compare it to was putting money into an IRA for the previous year up to the due date of that year's tax return. They are out of town at the moment so I can't ask them. Just wanted to be sure I wasn't over-looking something. MM Quote Link to comment Share on other sites More sharing options...
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