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You are here: Home   Categories   Taxes  Converting to Roth IRA and implications for economic stimulus tax rebate
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Submitted 561 days ago...

Visken778

Visken778

New User (5)

Converting to Roth IRA and implications for economic stimulus tax rebate

If one converted a regular IRA to a ROTH IRA in 2007, the amount of the conversion is treated as ordinary income, which seems to limits the opportunity to receive a tax rebate. It seems this type of IRA conversion income should not be considered in evaluating the qualifications for rebate. Is there any way to report this and become qualified for the economic stimulus tax rebate.

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