roth conversions
I qualify for a roth conversion for 07 but not for 08
i filed an extention for 07 and i want to know if i can NOW ( 09/08) do the conversion based on 07 income
I qualify for a roth conversion for 07 but not for 08
i filed an extention for 07 and i want to know if i can NOW ( 09/08) do the conversion based on 07 income
Permalink Submitted by Alan Spross on Mon, 2008-09-01 22:47
Sorry, but the final day for a 2007 conversion distribution was 12/31/07. It is also too late to make a regular IRA contribution for 2007 despite your extension. That deadline was 4/15/08.
Note that in 2010 the income limit for Roth conversions will no longer apply, so you will be able to convert within 16 months.