Yes. I saw that right after I sent my reply. I'm sorry. It was a case of my seeing what was in my own head at the moment.
David T. On Dec 20, 2022, 1:53 AM, at 1:53 AM, Michael or Penny Novack <stepbystepf...@comcast.net> wrote: >On 12/19/2022 2:49 PM, David T. wrote: >> Michael, >> >> While I fully respect your answer, with over 45 million IRA accounts >> in the US (according to one source I found online), this is a pretty >> common circumstance. It should be possible for basic guidance to be >> given by *someone*, without all 45 million consulting an accountant. >I >> personally don't know the answer. > >The question was not about basic IRA accounting (or 401k accounting, >which was your example) > >Usually people choose regular IRA or Roth IRA depending on whether they > >wanted to pay the income tax now (contribution time) or later >(distribution time). So it is NOT "all the people with IRAs" but only >"those few whose changed circumstances mean they now want Roth rather >than regular". << this is one of the few "changed your mind" that the >IRS allows >> > >For example, I might want to do this if I had regular IRAs and a huge >loss of some kind that could be used to offset the imputed income of >the >conversion to Roth. > >Michael D Novack _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
