SIMPLE IRA Factor into Roth Conversion
Person has SIMPLE IRA through work. Wants to do a non deductible IRA and then convert it into a Roth. Would the SIMPLE IRA cause the prorata rule on what’s converted? Thanks
Person has SIMPLE IRA through work. Wants to do a non deductible IRA and then convert it into a Roth. Would the SIMPLE IRA cause the prorata rule on what’s converted? Thanks
Permalink Submitted by David Mertz on Thu, 2019-03-14 19:40
Yes, the SIMPLE IRA year-end balance must be included in the prorata calculation.