I just deposited $5,500 into a traditional IRA account (Vanguard) and plan on making more than the limit this year to contribute directly to the Roth. This money is already taxed as well. Do I convert it immediately or wait?
Edit: One more question. I am bringing over money from a Penn Mutual Roth to Vanguard. Most of the money was for 2016 but some was from 2015. After the removal penalty, it is around $5400. Can I use that total amount for 2016 or does it have to stay distributed between 2015 and 2016 as it was at Penn Mutual?
Submitted January 26, 2017 at 08:55AM by not_a_mogul http://ift.tt/2j8gKaS
