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Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: Re: Roth Elgible? Date: 1/8/2011 6:03 PM
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So a 2010 TIRA can be made before April 15, 2011

The filing date for 2011 is April 18, not April 15, so contributions can be made until April 18.

but the conversion is for 2011 tax year?

Yes - conversions are based on the calendar year they are done in - there is no extension until the filing deadline, like for contributions.


Then can another 2011 TIRA contribution be made and converted this year?

Yes.

And since we are talking about nondeductible IRA conversions, there is no tax liability unless the temporary TIRA throws off income between establishment and conversion to Roth?

Again, assuming that each individual doing the conversion has NO OTHER IRAs with pre-tax contributions or gains, yes.

AJ
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