More than 1 Conversions to Roth IRA in same year
Can you make more than one conversion to a Roth IRA, from the same regular IRA in one year. I converted shares of stock that were down in value to save on taxes. I converted $28,000. in Jan. & $31,000. in Aug. ❓
Permalink Submitted by Alan Spross on Fri, 2008-08-08 02:28
Yes, no problem. There is no limit to the number of conversions you can process per year. Of course, you must be income eligible to convert and be able to pay the tax bill.
Your AGI income will be increased by 59,000 so far. If this turns out to be too much you might want to consider a partial recharacterization of one or both conversions.