10 Apr Can I put my retirement distribution into a Roth IRA?

Q. Can my Required Minimum Distribution (RMD) from my traditional IRA be directly converted or go into a Roth IRA? I am 75 years and taking RMDs.
— Still investing

A. First, we want to remind you that because of the coronavirus pandemic, investors are not required to take a Required Minimum Distribution (RMD) in 2020. If you’ve already taken the RMD and want to put it back, you can do so within 60 days of your withdrawal. If it’s more than 60 days, it’s believed you’re out of luck and the IRS isn’t expected to change that rule.

The tax code allows IRA owners to convert all or any portion of their IRA accounts to a Roth IRA, said Matthew DeFelice,, a certified financial planner with U.S. Financial Services in Fairfield.

But there is one significant exception to that rule.

“You cannot convert any portion of any RMD amount,” he said. “However, once you satisfy your RMD, you may then convert additional amounts and pay tax accordingly.”

The IRS rules specifically state that RMD’s cannot be rolled over or deposited in any other form of tax-deferred account, which includes Roth IRAs, he said.

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This story was originally published on April 10, 2020.

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