Submitted By: someone
Answered: November 19, 2018 10:18 pm

I made a Roth IRA conversion in 2018. Can I income average for this?

No. Income averaging is limited to certain lump-sum distributions from qualified retirement plans. There is no income averaging for IRA distributions or income resulting from a Roth IRA conversion.

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Tax Glossary

Standard mileage rate

A fixed rate allowed by the IRS for business auto expenses in place of deducting actual expenses.

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