Thanks for replying!
It seems that I can rollover my IRA into my current 401k. So I'll do that for my Rollover IRA and convert the traditional to Roth! Is it possible to also rollover to 401k the earnings in the traditional IRA as well? Would it be difficult to calculate that basis and do a true backdoor Roth conversion?
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@Opus 17 wrote:
However, since any rollover to empty your IRAs won't happen until calendar year 2024 (it can't be made retroactive), you could only do a backdoor Roth in 2024, not for 2023.
Is there a difference between converting into a Roth for 2024 vs 2023? My wife has already made her nondeductible IRA contribution for tax year 2024, I have not.
