Metrecht
Oct 11 2001, 12:12 PM
When the Roth IRA first was available (in '98?) they had a option, if you rolled it over then, to spread your extra tax payments over a number of years. Was this four years or three years? I need to know if I'm done with paying the extra.
Thanks in advance!!!!!!
Michael Devault
Oct 11 2001, 02:50 PM
If you converted your traditional IRA to a Roth IRA in 1998, you could spread the taxes evenly over a four year period. Your tax return for 2001 will be the last year that you have to include a part of the amount converted in income.