Hi
Someone that know the tax can help me with this question please.
Thank you in advance
In 2023 , I did a backdoor Roth $6500 (after-tax IRA#2-->Roth IRA), and I have an existing IRA#1 (pretax) with $3000 at Dec 31,2023. Turbotax did form 8086 and calculated that I need to pay tax on $2081 from the pretax IRA due to the IRA Pro-Rata Rule.
Now , in 2024, I am trying to avoid the pro-rata issue again. So I plan to get rid of the IRA#1 (which I understand now contained $2081 after-tax and $919 (pre-tax) << 2023 Tax File.
Do I need to do the following:
-- Roll the IRA#1 --$919 (pre-tax) into my company 401K
-- Then roll the $2081 (now after-tax) into my Roth IRA ?
-- I do want to do backdoor Roth IRA again in 2024, $7000
-- When I use TurboTax in 2024-- what do I put for the form 8086 when ask?
or
Is there a better way to get rid of my IRA#1 for me?
