IRA. Rollover to Roth
I rolled over my IRA to my Roth in March of 2020. $100,000. which now makes my husbands and my AGO over the limits for the stimulus check. I understand the high taxes I paid on this, but my question is: If I did not do this rollover this year I would qualify for the stimulus money. Is there anyway I can get the money???? Is there a form for me to fill out. thanks much
Terry Says
Actually there likely IS a way for you to qualify. The special rollover rules for 2020 said you can divide the rollover amount in thirds and pay the taxes over three years. So if you only include one-third on your 2020 return, maybe you will be under the $150,000 limit. Ask your tax preparer for help on this.
