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I did further research and the roth ira has to be set up for conversion by 12/31/2002. My question is this: what is the definition of "set up"?

The correct answer is that the conversion needs to be completed by 12/31/02. I don't know what setting up an account has to do with it (other than it needs to be done before the IRA can be converted).

I faxed over the conversion/distribution form today (12/30), but I don't think the Roth account will be funded by 12/31/02.

I also converted my IRA at Ameritrade to a Roth this month. I don't have the dates in front of me, but they had it done in less than a week from the fax date.

Can anyone please let me know if my conversion will occurr in 2002 if the roth account does NOT get funded by 12/31?

I'm afraid if they don't do the conversion tomorrow, it will be a 2003 transaction.

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