I have both Tradition IRA and Roth IRA.
Traditional IRA: My contribution (from previous years) is also after tax money, since I have a work retirement plan and my income is higher than maximum income limit.
https://www.irs.gov/retirement-plans/plan-participant-employee/2022-ira-contribution-and-deduction-l...
Two questions:
1) How can I move part of traditional IRA balance (cash) to Roth IRA account?
2) How should I report backdoor roth IRA conversation when filing tax return next year? Since traditional IRA contribution is also after tax money, I should not need to pay tax for the conversation. But how should I deal with IRS?
In fact, I want to convert TD Ameritrade traditional IRA to TD Ameritrade Roth IRA first (partial conversion), then transfer some money from TD Ameritrade Roth IRA to Webull Roth IRA (partial transfer).
Thanks.
