Hello,
I currently contribute $6000/year to my traditional IRA from my post-tax paycheck.
I don't get any tax deduction because my wife is covered by a retirement plan at work, and we make over $129K. Hence, basically all my money in traditional IRA is "taxed" already.
Now, I want to do a backdoor Roth conversion. Many blogs say that if I do the conversion, then I have to pay taxes on the amount I convert, but it doesn't make sense in my case.
What to do about this?
