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Get your taxes done using TurboTax
Your basis goes back to $0 once you complete your backdoor Roth conversion.
The whole idea of a backdoor Roth is to put after tax money into a Roth so you don't have to do a taxable conversion. This is done by funding a Traditional IRA with after tax dollars and moving that into a Roth when your income is too high to make a normal Roth conversion.
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March 18, 2022
4:24 PM