I was trying to do contribution for what's known as backdoor-Roth for year 2025 where the max contribution limit for backdoor-roth is 7k.
But my TraditionalIRA+RolloverIRA already has some small amount of around $20-30 remaining from previous earnings.
How should one do the backdoor conversion without triggering "pro-rata" rule just so everything is clean?
Can I move money in Trad-IRA to 401k without triggering a tax event? Is there any way I can cleanup any amounts in Trad+Rollover IRAs so they're empty before doing contribution of 7k to TradIRA and then moving it to Roth-IRA?
But my TraditionalIRA+RolloverIRA already has some small amount of around $20-30 remaining from previous earnings.
How should one do the backdoor conversion without triggering "pro-rata" rule just so everything is clean?
Can I move money in Trad-IRA to 401k without triggering a tax event? Is there any way I can cleanup any amounts in Trad+Rollover IRAs so they're empty before doing contribution of 7k to TradIRA and then moving it to Roth-IRA?
Statistics: Posted by bogle005 — Thu Jan 23, 2025 5:37 pm — Replies 2 — Views 108