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M
msmoldy
February 3, 2025
Question

When can I use Code C for Roth Conversion? (Current year conversion from IRA to Roth IRA) You can subtract current year conversion from a traditional IRA to a Roth IRA

  • February 3, 2025
  • 1 reply
  • 0 views
My Michigan Tax Return refunds the Tax I paid if I choose Code C for a Trad to Roth Conversion. Does this make sense?

    1 reply

    D
    dmertz
    Employee
    February 3, 2025

    "When can I use Code C for Roth Conversion?"

     

    Never.  IRAs are not permitted to hold life insurance contracts as investments.

    M
    msmoldyAuthor
    February 4, 2025

    Thank you; that makes sense.
    I think the wording was confusing me for choices.  

    D
    dmertz
    Employee
    February 4, 2025

    You use whatever code is in box 7 of the Form 1099-R, code J, T or Q for a regular Roth IRA distribution.

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