IRA Conversion Versus IRA Rollover
Earlier this year, I moved money from my Traditional IRA to my Roth IRA at the same financial institution, and it was characterized as a “conversion.” In this specific instance, was the conversion the same as a rollover of funds, and does the once every 12 months IRA rollover conversion restriction rule apply to that conversion, or can I perform conversion without that restriction?
Permalink Submitted by David Mertz on Sun, 2020-12-27 13:58
Roth conversions are disregarded with respect to the one-rollover-per-12-months rule. You can perform conversions without restriction.