I have two IRA Accounts. In one I put only deductible contributions, in the other I put only non-deductible contributions. I thought I would be smart in 2000 and only convert the non-ded. IRA to a Roth, thereby paying taxes only on the earnings. But when I went to do my taxes, I found out that apparently I wasn't allowed to specifically identify the funds that were converted. So that a fraction of both accounts would be considered by the IRS to have been converted, not all of one account and none of the other. Does this match everyone else's understanding?
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Anal