Regions Help & Support

FAQ

Can I Convert a Traditional IRA to a Roth IRA?

An IRA conversion occurs when a Traditional IRA is converted to a Roth IRA. If only deductible contributions were made to the Traditional IRA (or Traditional IRAs if you own more than one), all amounts in the Traditional IRA that are converted to a Roth IRA are reportable as taxable income. However, if you own more than one Traditional IRA, the taxable portion of any conversion you make will be prorated across all your Traditional IRAs.