I am retired and have a traditional IRA. I opened a Roth IRA in 2015 and converted 40k from my traditional IRA to my new Roth IRA. Can I use any of that amount on my 2014 taxes?

can you USE any of the amount on your 2014 taxes???? Whenever you convert from a pre-tax plan to a Roth-ira, which is after-tax, you must pay taxes on the conversion. Those who converted in 2010 got a one-time option to spread their conversion taxes over two years. For conversions in 2011 and later it reverts to the old rules, meaning you would pay taxes on a lump sum distribution from your ira. This could be a considerable amount for a retiree that could diminish the value of tax-free withdrawals or inheritance. In order to set up or contribute to any Roth ira, you must have earned income. As a retiree who does not have earned income, you are is free to convert assets in a pre-tax retirement plan like a traditional IRA to a Roth IRA, though it might not be the best move tax-wise. You should consult with a financial advisor to determine if such a move is right for you and your estate plan .

I'm sorry, I did not explain myself very well. I paid the tax when i did the conversion. I was wondering if i could treat that as a contribution to my roth if i did it before April 15th of this year. Maybe conversions and contributions are 2 different things as far as the roth is concerned. Tax laws are very confusing to say the least. Thank you.

You ARE converting your traditional IRA to a Roth IRA by either Rollover meaning you receive a distribution from a traditional IRA and contribute it to the R-IRA within 60 days after the distribution (in this case, the distribution check form IRA acct. is payable to you; by trustee-to-trustee transfer meaning You tell the financial institution holding your IRA assets to transfer an amount directly to the trustee of your R-IRA at a different financial institution , in this case,the distributing trustee may achieve this by issuing you a check payable to the new trustee;
OR If your traditional and R- IRAs are maintained at the same financial institution, you can tell the trustee to transfer an amount from your traditional IRA to your R- IRA.A conversion to the R-IRA results in taxation of any untaxed amounts in the traditional IRA by being reported on Form 8606. The shortest answer is , for any given year, the deadline for a R- IRA conversion is Dec. 31 of that year. This is different from IRA contributions, which can be made up until April 15 of the following year.