Convert SEP IRA to a Roth
I have been told that there is a tax-free way to convert my SEP-IRA to a Roth IRA. Is that so? And if so, how do I do it.
I have been told that there is a tax-free way to convert my SEP-IRA to a Roth IRA. Is that so? And if so, how do I do it.
Permalink Submitted by Alan - IRA critic on Wed, 2013-05-08 20:08
You can convert the SEP IRA to a Roth, but it will NOT be tax free because the SEP IRA has no basis, ie it is pre tax. There is no way to convert pre tax IRA dollars tax free.