@marychris wrote:
Hi there,
I'm looking to make a non deductible contribution to a traditional IRA and then convert it to a Roth IRA, since I exceed the income thresholds. However, there was an excess contribution earlier this year in a prior Roth IRA (not my fault, the IRA provider moved the money to the wrong account). It's since been corrected and the Roth was closed.
However, now that I want to do a backdoor Roth, having just recently learned about them, is it going to cause any IRS issues that I'm opening a new Roth, since I previously had an excess contribution in the old Roth? This would be a new Roth with the same IRA provider.
Possibly.
Where was the money moved to? What type of account?
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
