Question:
Does a rollover from my traditional IRA to a Roth IRA
qualify for the pension subtraction?
When a traditional IRA is rolled over into a Roth IRA, the rollover
amount is included in federal adjusted gross income as an IRA
distribution. This income qualifies for the pension subtraction in the
year the amount is included in the federal adjusted gross income if the
taxpayer is over 55 as of December 31 of that year. This is true whether
the rollover is reported in full in the year of the conversion or
reported over a four-year period. |
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