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Rollover IRA and Roth IRA
Hi,
I have a rollover IRA from a prior employer that was converted in 2023 ~4K (pre-tax money). I created a traditional IRA with contribution to 2024 now (7K), with plans to convert it to Roth IRA (backdoor Roth) for 2024 contributions, but how would my rollover IRA play a role here in the prorata rule? I realized about my rollover IRA after I had transferred the money to the traditional IRA, and already called and rolled the rollover IRA into my current employers 401K, but this rollover account was certainly not 0 on December 31s, 2024, since I am doing this in March of 2025. Thank you for the guidance.
Topics:
March 17, 2025
12:51 PM