taxation spread over years when doing a conversion to Roth
some one read somewhere that taxation of conversion from traditional IRA to Roth may only be allowed to be spread over 2 years. is that true?
he said he knew in the past it was alllowed over 4 years but now may be allowed only over 2 years. could you confirm that?
Permalink Submitted by Janine Janine on Fri, 2009-01-23 17:57
For conversions made to Roth in the [b]year 2010[/b] [b]only[/b] the taxes due can be paid in 2011 and 2012. The 4-year spread was available only when the Roth IRA was first introduced.
I have learned so much from this forum. But then, I should let the experts answer! 😳
Janine