If the reporter cashed the check for the month of death (and any later months), do not ask for a refund. Advise the reporter that the Treasury Department (TD) may request the funds back from the bank that cashed the check for a period of up to 12 months from the month that SSA learns of the death.
For example, if 5% of your non-Roth IRA are non-deductible contributions, then 5% of the conversion amount must be non-deductible contributions, and the rest must come from the deductible contributions, including earnings and rollover contributions.
BREAKING DOWN 'Carryover Provision' Deductibles are common features of insurance policies. This is the amount of loss that the policyholder is responsible for before the insurance policy coverage takes effect. For example, a health insurance policy may have a $500 deductible that is the responsibility of the policyholder.