WealthRabbit Support

Can I convert my Traditional IRA to a Roth IRA?

Yes. You can convert all or part of your Traditional IRA to a Roth IRA. This process is known as a Roth conversion. When you convert, the amount moved is treated as taxable income for that year, since Roth IRAs are funded with after-tax dollars.

 A conversion can be beneficial if you expect your future tax rate to be higher or if you want to take advantage of tax-free withdrawals in retirement. WealthRabbit provides tools and information to help you understand what a conversion means for your long-term financial plan.
Because conversions impact your tax liability, it’s a good idea to discuss the decision with a tax professional before moving forward.