Sureshve
New Member

Roth ira backdoor

Hi, 

I am 40 years old and above the income limit for traditional ira. I contributed a total of 16k over last few years to traditional (including 6k in 2022 which I did on 4/15/23).my basis is close to 15k and all the money is post tax. I want to do a backdoor conversion to roth. Can I do all the money in one go or limited to only doing the 6k which I transferred this year

Considering I dont have much gains will i need to pay taxes on this conversion?

 

Thx