IRA to Roth Conversion - Passive or Active for Taxation purposes?

[Joe Jor]

Howdy Gang,

I am considering converting an IRA to a Roth. I know this will trigger a taxable event. Is this event considered an active or a passive activity?

The background of the question is: can this tax be offset by depreciation losses from rentals I own?

I am based in Westchester County, NY and not a 'Real Estate Professional' as defined by the IRS; as such my rental losses are passive.

Thanks for your input.

Joe