Help! Can I still do a Roth conversion for 2022 in 2023?

[Wayward]

Hello, I have a strange situation and am hoping the forum may have the answer.

I wanted to convert funds from my traditional IRA to my Roth IRA to continue the Roth Converstion Ladder for tax year 2022. I was concerned that my earned income plus the sale of a rental property would cause the conversion to bump my taxable income really high and therefore did not complete the conversion by December 31, 2022. Now it looks like I may have been able to do the conversion with very minimal tax hit and I'm not sure if it's too late.

Does anyone know if it's still possible to do a Roth conversion now in January 2023 and have it count for the 2022 tax year? Or would it have to count for 2023?

[MDM]

2023.  No choice.

[seattlecyclone]

Yep, conversions always count toward the year they actually happen.

[harvestbook]

If you made Traditional IRA contribution for 2022, you can recharacterize it to Roth for 2022, so that may help a little.