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Retirement tax questions
Thanks, apologies for not being clear. My situation is entirely about 2024 only. Converted traditional IRA to Roth IRA as step 1 (so balance was 0 then), then as step 2 executed the backdoor Roth with non-deductible contribution to the traditional IRA. The traditional IRA has 0 balance now. I was wondering if I will be taxed only on step 1 deductible contribution (which was there since 2012-14 timeframe and has grown), or will pro rata apply to me because of step 2. Thanks for your guidance.
‎April 6, 2025
7:43 PM