Permalink Submitted by Jose Morales on Mon, 2012-02-06 17:09
Yes, you can convert in the same year that you make a contribution. If you are trying to acheive a tax free conversion of a non-deductible contribution please keep in mind that you must factor in the total basis from ALL traditional IRAs that you have when calculating the taxable amount of a conversion.
Permalink Submitted by Jose Morales on Mon, 2012-02-06 17:09
Yes, you can convert in the same year that you make a contribution. If you are trying to acheive a tax free conversion of a non-deductible contribution please keep in mind that you must factor in the total basis from ALL traditional IRAs that you have when calculating the taxable amount of a conversion.