That is what most people do not realize about the so-called backdoor Roth. It does not work unless the total value of all existing Traditional, SEP & SIMPLE IRA accounts are a zero value at the end of the tax year, otherwise the non-deductible basis must be prorated between the conversion and total year end value so only a small portion is not taxable.
**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.**
