thank you for your input!
Lets say I report my SEP IRA end of year basis and value as part of all traditional IRAs. I pay the calculated tax (this does not feel right to me but okay, extra hit of $2K)
Does it mean though that if I would convert my SEP IRA to Roth now there would be less tax to pay than before this backdoor conversion? Does my backdoor Roth conversion increase my traditional IRA basis by $6000?
Just want to make sure I won't be double taxed on my money.
