misanman
Thinks s/he gets paid by the post
- Joined
- Apr 28, 2008
- Messages
- 1,255
Sorry for a rather basic question but I'm considering a tIRA to Roth conversion and I'm wondering about the mechanics of the conversion given the 5 year restriction on tax free withdrawals.
If I did a Roth conversion each year, would those need to be to separate Roth IRA accounts? Or can I establish a single Roth IRA account and then add to it via conversions each year?
If you can have a single account with multiple conversion events, then how do you keep track of the 5-year restriction on withdrawals?
Thx
If I did a Roth conversion each year, would those need to be to separate Roth IRA accounts? Or can I establish a single Roth IRA account and then add to it via conversions each year?
If you can have a single account with multiple conversion events, then how do you keep track of the 5-year restriction on withdrawals?
Thx