Means Test: Is Converting Traditional IRA to Roth IRA Income For Bankruptcy Means Test?

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Matt Berkus, discusses the obscure situation of converting a Traditional IRA to a Roth IRA in the context of bankruptcy. The IRS treats the conversion of a Traditional IRA to Roth IRA as a taxable event; does that mean that such a conversion is income for purposes of the bankruptcy Means Test?

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Matt Berkus, Reliant Tax Relief | Attorney Advertising

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