WealthRabbit Support

Can I contribute for the previous tax year and convert later?

Yes. IRA contributions can be made for the previous tax year until the federal tax filing deadline, typically April 15 of the following year.

For example:

• You may make a 2026 IRA contribution between January 1, 2026 and April 15, 2027.

• That contribution would be reported for the 2026 tax year.

However, Roth conversions follow the calendar year rule.

This means the conversion is reported for the year in which the conversion actually occurs, not the year the contribution applies to.

Example

• Traditional IRA contribution for 2026 made in March 2027

• Roth conversion completed in March 2027

In this case:

• The contribution is reported on the 2026 tax return

• The conversion is reported on the 2027 tax return

Because contributions and conversions may fall into different tax years, accurate reporting using Form 8606 is important to ensure the correct taxable amount is calculated.