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Retirement tax questions
Lets do a quick recap.
Traditional IRA was opened in 2019. All $1500 were non deductible. The account grew to $2500 (nice round number to use for this sample).
So you are saying the options to take to correct the mistake:
1) Keep $1000 in the 403b, then distribute $1500 to the Roth IRA
2) Distribute all $2500, then move the $1000 back into the 403b. Then $1500 to Roth IRA
Currently the Traditional IRA has $0.
I am trying to learn whats the easiest way for TIA. A simple procedure on the original request was supposed to be easy :-).
‎January 24, 2025
1:59 PM