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When you convert a non-deductible traditional IRA to a Roth, do you also need to convert a portion of deductible IRA contributions?


The BIDaWIZ Team's Answer:

Yes. The account holder cannot elect to convert only non-taxable IRA assets. The account holder must convert a pro-rata share between non-taxable and taxable IRA assets. For instance, if the account holder converted $10,000 to a Roth IRA and held $12,000 in an SEP IRA and $10,000 in a traditional IRA, the $10,000/$22,000 or 45% would be treated as a traditional IRA conversion and $12,000/$22,000 or 55% would be treated as part of the SEP IRA.

References: IRC Section 408A and IRS Publication 590
State: Maine

The BIDaWIZ Team



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