galawdawg wrote: ↑Sat Aug 07, 2021 10:49 am
jeffyscott wrote: ↑Sat Aug 07, 2021 10:32 am
The most confusing part has been getting to that page. There is no menu item for "Roth Conversion" under "Accounts", where the url implies it would be. Neither have I found a menu item for Roth conversions anywhere else.
There is an item for "transfer" and you can, I think, now use that to start a roth conversion as long as the Roth account already exists. For a while the only way I could find the roth conversion page was a search of the site and if I, instead, I went to the "transfer" page that would only allow conversion of a full position. At an earlier time, I think going to the transfer page and starting a transfer from TIRA to Roth would say something like "that can't be done from here" and give a link to the page that you have provided a link to.
If you use the URL I provided in the link and then login to your account, you will be at the Roth conversion page.
(To get there indirectly, go to Accounts, Transfers & Payments and Online Transfers. When you attempt to transfer into your Roth IRA account from a traditional IRA account, it will display the same link I provided.)
If you don't already have a Roth IRA opened, no problem. On the Roth conversion page is a grayed-out "
Open a Roth IRA" button. Once you select the "FROM" account, the
Open a Roth IRA button is no longer grayed-out and becomes available to select.
Right, I am aware of all that. Except I
think they have changed it and you now can actually proceed from the transfer page, without the link appearing or ever going to the Roth conversion page that you linked to.
I did not go all the way through, as I did not want to complete a conversion, but from the online transfer page after indicating shares that I wanted to transfer from TIRA to Roth, clicking "continue" brings up new page with withholding elections, etc. and clicking continue there would appear to me to be the final step to actually completing the conversion (I did not do it, though).
This is a very recent change, I think they had been working on that path for a while
. As I noted, at one time it seemed like it was ready to work that way, but only if you wanted to convert all shares of a position. I will be doing a conversion later this month and can try to see if starting from transfers is now fully functional, as I suspect, rather than sending you to the other page via a link.
I did finally find the actual menu path to your link for conversions, it's under: service - forms (not a very intuitive location to look for how to do a conversion online)
That menu path leads here:
https://client.schwab.com/areas/service ... tion/forms
There is then a link for "Convert Traditional IRA to Roth IRA", when you click on that, it brings up this pop-up
and the link in the pop-up goes to the page that you had linked to.