@fanfare - I feel you've significantly oversimplified what I find to be the most common denominator in a reasonable description of a backdoor conversion. Your assumption, I believe, is that the only tax that matters and is worth talking about is future (year) taxes.
In fact, "when you transfer the assets of a traditional IRA to a Roth IRA, you owe taxes in that tax year on any funds—as well as on earnings and appreciation in transferred assets—that have not been taxed previously." I think everyone, myself included, can rationalize that you will always pay taxes on your money either now or later (the value is on how much you're taxed on how it grows).
I suppose, if it's not considered a "backdoor conversion", what should I call it?
I'm trying to confirm my understanding to be accurate. Particularly when an additional 401(k) -> to -> Traditional-IRA has been performed in the same year as a separate Backdoor Roth-IRA conversion.
Thanks again!
