maryestes
Apr 11 1999, 05:56 PM
I converted a small traditional IRA totally funded with taxed contributions to a Roth IRA in March 1999---I made no additional contributions to any IRAs for 1998---Do I need to report ANYTHING on my 1998 tax return or do I do it in my 1999 return next year? (I know I will have to pay some taxes on my capital gains, the question is: when?).TurboTax was no help!
Mary Ann
Apr 11 1999, 08:53 PM
You don't need to report anything concerning your IRA for 1998. You will report the conversion in 1999.