Stimulus Check
I converted a traditional IRA to a Roth IRA. I paid the taxes as a result, but the converted amount is added to my AGI, putting me over the limit to receive any Stimulus money. This doesn’t seem fair, since this is in a retirement account and was not earned last year. Do you have any advice on how I can qualify for Stimulus money? Thank you very much.
Terry Says
Nope. Sorry. It’s based on AGI. If that’s what’s on your 2019 return you can’t get a stimulus payment. BUT if it was on your 2018 return, then quick file for 2019. You may not get it automatically but there will probably be a way to appeal to get a credit on your 2020 return.
