How to Report a Roth IRA Conversion?

Answer A Roth conversion is the process of taking pre-tax retirement dollars from qualified retirement plans such as 401k, 403b or traditional individual retirement accounts (IRAs) and recording them as a... Read More »

Top Q&A For: How to Report a Roth IRA Conversion

What is a Roth conversion?

Roth conversions refer to moving money from a tax-deferred account, often a traditional IRA or 401k plan, into a Roth IRA. You will have to pay income taxes on the amount of the conversion, but the... Read More »

Roth IRA Conversion Strategy?

Roth IRAs offer unique features not available in traditional individual retirement accounts. Although you forgo the tax deduction on contributions, you get tax-free growth and untaxed withdrawal. ... Read More »

When are taxes due on a Roth conversion?

On April 15, taxes are due on a Roth conversion when the taxpayer has withdrawn money from a 60-day transfer of funds and has not returned the portion of money withdrawn within the 60 days. The tax... Read More »

Tax Treatment of a 401K to Roth IRA Conversion?

Roth IRAs and 401K plans are two tax-advantaged retirement savings plans. 401K plans are offered by companies to their employees, while IRAs can be set up by anyone who has earned income. Beginning... Read More »