Thank you. Can you please clarify what you meant by "and many more" when you said "Also be sure you understand how the so called "Backdoor Roth" works. Since you already have $500 earnings and many more, then it will be partly taxable."
My understanding is that since I am only converting the $6500 from Traditional IRA to backdoor ROTH (my original contribution of $6000, plus the increase in value of $500 attributed to the $6,000 contribution), that only the $500 would be a taxable gain.
Can you confirm that I am understanding correctly? Thanks!
