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L
louiskolker
January 18, 2025
Question

what does nontaxable conversions less withdraws mean

  • January 18, 2025
  • 1 reply
  • 0 views
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    1 reply

    D
    DianeW777
    January 21, 2025

    Generally this has to do with Roth retirement accounts.  A nontaxable conversion is after-tax amounts that won't be subject to income tax. Any before-tax portion converted will be included in your gross income for the year (such as earnings).

     

    Depending on age and time frame, there could be a penalty.  Please update with more detail if you need further assistance and we can help.

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