converting a roth this year
A client wants to do a roth conversion this year. Does it have to be completed by 12/31 or do they have until they file their taxes next April?
A client wants to do a roth conversion this year. Does it have to be completed by 12/31 or do they have until they file their taxes next April?
Permalink Submitted by David Mertz on Wed, 2014-09-24 16:21
For a Roth conversion to be reportable on the client’s 2014 tax return, the conversion would have to be performed (the distribution made from the original account) before the end of 2014. A conversion performed in April 2015 would be reportable on the client’s 2015 tax return.