I'm trying to do a backdoor Roth conversion since my wife and I make too much for our contributions to be tax deductible. I read about the process and am not sure if the pro-rata rule applies to us. The non deductible contributions were all made into new accounts, ie those accounts contain just the non deductible contributions and their earnings. Can we convert these directly to a Roth without incurring the wrath of the pro-rata rule?
To be specific, my pretax IRA accounts consists of:
Vanguard Rollover IRA (old 401k rollover to IRA)
Fidelity Traditional IRA (contains non deductible contributions for 2022 & 2023)
My wife's pretax IRA accounts are just a Vanguard Traditional IRA with non deductible contributions from 2022, 2023, 2024
1. Can I convert my Fidelity Traditional IRA and my wife's Vanguard Traditional IRA directly to a Roth with no pro-rata rule calculation?
2. If not, does the pro-rata consider my Vanguard Rollover IRA into calculation or the pro-rata rule only applies to the earnings in the traditional IRA?
