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logemanngregsue
April 23, 2020
Question

traditional ira conversion to Roth ira.

  • April 23, 2020
  • 1 reply
  • 0 views

Everything I read states moving traditional ira to roth ira has a limit of $7000.00.  What if you move more than $7000.00?

      1 reply

      A
      AnnetteB6
      April 23, 2020

      There is not a dollar limit for converting a Traditional IRA to a Roth IRA.  The dollar limit comes into play for IRA contributions not conversions.  A conversion is not considered a contribution.  

       

      Conversions from a Traditional IRA to a Roth IRA may or may not be taxable, depending on the basis of the Traditional IRA that is being converted.  

       

       

      @logemanngregsue

       

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