IRA Rollover

Archive for January, 2010

Question: If I convert my rollover & nondeductable IRAs to Roth, can I then comingle those with my existing Roth IRAs?

In my retirement account I have a Rollover IRA from a former employer, a Roth IRA, and also a traditional (nondeducted) IRA, all are in separate accounts — I understand that tax rules don’t allow comingling of funds with different rules (like Roth vs. Traditional.) If I convert my Rollover and traditional IRAs to Roth, then all the different accounts would be under the same rules. Will I then be able to combine/comingle those acconts, so all the funds are in one big account?

Answer: Yes. Once all your IRAs are converted to Roths, you can transfer them to another Roth of your choosing.

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