David Jensen wrote:

- quote -

The conversion is initiated by the withdrawal of funds from
the traditional IRA. That event HAS to occur no later than
the last day of the tax year. You have 60 days to rollover
the funds to a Roth IRA to complete the conversion.

- quote -

If you make the conversion before the end of the year, and
then find that your conversion is "excessive" because of the
AGI limit, you have until the extended due date of your
return - up to October 15 of the next tax year) to
recharacterize the Roth back to a traditional IRA. It will
be treated, taxwise, as if the conversion never happened.

- quote -

See first answer.

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"David Jensen" <djnews1[at]xxhealthcare.com> writes:

- quote -

Yes.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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Does a Roth IRA conversion have to occur before 12/31/xx to
be counted in that same tax year or does it have to occur by
April 15 of the following year (or some other date)? It
seems like there would be logic in letting you convert after
the year since it is only at that point that you truly know
if you are above or below the 100K income cap (for those
people riding the 100K fence). What constitutes the
conversion date? Is it when you send conversion paperwork
to the bank or broker? Is it when they physically transfer
the funds from one account to another, when?

Thanks for the good work that you people do on this forum.

--
David Jensen
Replace the xx in my E-mail address with "Team" for my real E-mail address

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