Comments on: Contribution to Non-Deductible Traditional IRA http://www.myretirementblog.com/contribution-to-non-deductible-traditional-ira.html Retire happy, healthy and wise. Tue, 07 Feb 2012 11:13:49 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: retirehappy http://www.myretirementblog.com/contribution-to-non-deductible-traditional-ira.html/comment-page-1#comment-68155 retirehappy Fri, 27 Jun 2008 19:00:33 +0000 http://www.myretirementblog.com/?p=352#comment-68155 To convert, you specify a dollar amount or percentage of the Traditional IRA you want to convert. You can't pick from which year it comes from but if it's all nondeductible contributions in the Traditional IRA then it won't matter. That's why it's important to keep the nondeductible and the deductible (the rollover) completely separate. So when you make the conversion, you say you want to convert $1000 or 20% or whatever it is; then you pay the taxes on that. To convert, you specify a dollar amount or percentage of the Traditional IRA you want to convert. You can’t pick from which year it comes from but if it’s all nondeductible contributions in the Traditional IRA then it won’t matter. That’s why it’s important to keep the nondeductible and the deductible (the rollover) completely separate.

So when you make the conversion, you say you want to convert $1000 or 20% or whatever it is; then you pay the taxes on that.

]]> By: Pam http://www.myretirementblog.com/contribution-to-non-deductible-traditional-ira.html/comment-page-1#comment-68154 Pam Wed, 25 Jun 2008 13:27:11 +0000 http://www.myretirementblog.com/?p=352#comment-68154 Great post. I have a question -- I have a traditional IRA which is separate from the rollover IRA. The rollover IRA is funded by rolled over 401k at ex-employers. The traditional IRA is all non-deductible contributions. Does this mean I can convert part of this traditional IRA to ROTH in 2010? Is there a way to indicate which year's contribution I am rolling over? Thanks. -Pam Great post.

I have a question — I have a traditional IRA which is separate from the rollover IRA. The rollover IRA is funded by rolled over 401k at ex-employers. The traditional IRA is all non-deductible contributions.

Does this mean I can convert part of this traditional IRA to ROTH in 2010? Is there a way to indicate which year’s contribution I am rolling over?

Thanks.

-Pam

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