How to Convert a Nondeductible IRA to a Roth IRA

How to Convert a Nondeductible IRA to a Roth IRA

Business
January 15, 2023 by secret
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[ad_1] If you have a nondeductible IRA, you can convert it into a Roth IRA and enjoy the Roth’s additional advantages, including tax-free withdrawals and no required minimum distributions (RMDs). However, the rules you’ll need to follow will depend on whether you have only nondeductible IRAs or both nondeductible and deductible IRAs. Key Takeaways Nondeductible