Roth IRA’s
Invesco is saying that we cannot combine a Roth Conversion account with a Roth Contributory account.
Do you know why these have to be kept separate?
Invesco is saying that we cannot combine a Roth Conversion account with a Roth Contributory account.
Do you know why these have to be kept separate?
Permalink Submitted by Alan - IRA critic on Fri, 2016-09-30 22:17
They do not need to be kept separate. There are some reasons to keep them separate if you plan to recharacterize and want to know the gain or loss on a conversion without doing a calculation. But there is no IRS requirement to keep them separate. If they are separate now and the recharacterization deadline has passed there is no longer any reason to keep the accounts separate.