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Accounting for Roth conversion already made in 2023 – How-to Forum – Pralana Retirement Calculator Forum
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Accounting for Roth conversion already made in 2023

 
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 Robert Olliver
(@bytor1943)
Eminent Member Customer
Joined: 5 years ago
Posts: 14
Topic starter April 3, 2023 9:04 am  

Are there settings to adjust Pralana so it takes into account a Roth conversion (and corresponding estimated tax paid) already made for 2023? I could update the Roth Account amount on Financial Assets > Initialization to reflect the increase, but that won't affect the optimized conversion amount for 2023 when recalculating.

Or do I need to wait until the 2024 version to recognize 2023 conversions?


   
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Roth conversion
 Richard Eaton
(@ricke)
Trusted Member Customer
Joined: 6 years ago
Posts: 58
April 5, 2023 8:30 pm  

I would not update either the IRA nor the Roth accounts until next year, leave them as if you had not done the conversion. Pralana only works in terms of the total year, you will confuse the tax calculation if you don't let it do its thing.


   
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 Robert Olliver
(@bytor1943)
Eminent Member Customer
Joined: 5 years ago
Posts: 14
Topic starter April 6, 2023 11:07 am  

@ricke - Thanks, this is the answer I expected.


   
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