Re: coolhand's Account Talk
A Roth conversion account is different than a regular Roth acct. I created a Roth conversion acct back around 2000-2003, somewhere in there, rolled a small non-deductible Trad IRA into it, paid taxes on earnings, since taxes had already been paid on the contributions. and yes, I had to prorate contributions that were already taxed, because you have to prorate based on total value of all existing Trad IRA accounts first. I also had a small tax-deferred Trad IRA at the time, separate account. didn't matter. The conversion rules do not require that you include TSP in the equation for rollover,but If you have a tax-deferred trad ira account and do the Roth conversion incorrectly, the entire tax-deferred trad ira could be declared as being distributed and taxes due on that too.
So if you have a tax-deferred Trad IRA outside account, be careful. good that you are working with an accountant.
"life can only be understood backwards, but it must be lived forwards" - soren kierkegaard
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