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Backdoor Roth with Form 8606 in Next Year
Due to timing, my $4,000 non deductible contribution into my traditional IRA was still in my Traditional IRA as of 12/31/22 and comprised the full balance. I want to convert this to a Roth.
To avoid being taxed again as distribution when I convert to Roth in 2023, would filing form 8606 for the non deductible contribution in 2022 make this work as intended when converting the $4,000 to Roth in 2023?
‎January 2, 2023
6:25 AM