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Retirement tax questions
I've processed the return of excess contributions from the 2nd and 3rd Prudential IRA distributions back into my Vanguard brokerage account. Can I use funds from that same Vanguard account to complete the Roth conversion? I don't think I can roll over the return of excess contributions, but I have enough funds in the brokerage account to fund the conversion without using the excess contribution distribution. For instance, if the returned excess contribution was $50K and I have and additional $75K in the brokerage account (for a total account balance of $125K), could I use $50K of that $75K to complete the indirect ROTH conversion without any adverse tax consequences?
‎August 20, 2024
10:58 AM