- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
I mean converting previously non deductible traditional IRA contribution.
2020: Make $100 traditional IRA for 2020 contribution, just tried to open an IRA account. But did not do backdoor roth then.
2022: I opened another traditional IRA and roth IRA with another broker, now I have made 1500 non dedutible traditional IRA contribution and $4500 roth contribution with this broker. And I converted $1500 into roth.
Question: That $100 (actually $100.07, plus interest) has not been converted to Roth yet, and I decide to convert it this year, is it before?
So if also converting those $100.07, then for year 2022:
Contribute $4500 to Roth
Contribute $1500 to Traditional IRA
$1600.07 backdoor Roth conversion ($1500 from one traditional IRA, and $100.07 from another traditional IRA)