I found this similar question, but the comments made to the one and only answer is confusing my understanding of it...
Right now I just have one traditional IRA that I opened in 2016, funded from a 401k rollover. In 2016 my lower income put me in a lower tax bracket and I didn't really make any new contributions to the IRA.
I read somewhere, it's a good idea, in a "lower tax bracket/income year" to convert some of the traditional IRA funds, to Roth IRA, since you'll be taxed at a lower bracket.
Can I still open a Roth IRA this month (Feb 2017) and transfer most of the trad. IRA funds into it, and have those funds be taxed for my 2016 taxes?