Message Font: Serif | Sans-Serif
No. of Recommendations: 0
[[IRA #1 $20,000
IRA #2 5,000
IRA #3 5,000

I wish to convert $10,000 to a Roth IRA for 1998. Can I convert *both* IRA #2 and IRA #3 in
1998, or am I limited to converting only 1 account? Assuming I can only convert one account, can
I convert a partial account (ie. half of IRA #1) to meet the $10,000 I wish to convert?]]

As Bob correctly pointed out, Uncle Sammy considers that you have just one, big IRA with a total value of $30k. And, as Bob also pointed out, if you have any basis on any of the IRAs, that basis will be considered to spread out over the total IRA. The 1/3 example that Bob gave you was first class.

And, finally, as Bob pointed out, you can convert any amount. You don't even have to convert a "whole" IRA. In your example, you could convert $22k, or $3k, or $29k. Any amount that makes financial sense to you.

We discuss this issue in a bit more detail in The Motley Fool Investment Tax Guide. You might want to check it out.

TMF Taxes

Want to learn more about taxes and investing? Then we have a deal for you!! The Motley Fool Investment Tax Guide is now available through Fool Mart. Be the first one on your block to own this masterpiece. There is still time available to do that tax planning (and tax saving) before the end of the year. So just click on this link ( to read more about this amazing collection of tax information. (Apologies for the shameless plug…but it is a pretty good book…if I do say so myself). In addition, if you would like to visit the Taxes FAQ (Frequently Asked Questions) area, click on and you'll be right at the home page. Pay special attention to the "archives" section. Check it out. Finally, if you need to get to the IRS web site, click on to go directly there.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.