- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
I'm using the backdoor IRA method (whereby I contribute to a traditional IRA with after-tax money, then later convert to Roth).
When calculating the basis for the conversion, do I need to include my tax-deferred IRAs? If so, this results in my after-tax contribution money being taxed a second time during the conversion. Is this correct?
When calculating the basis for the conversion, do I need to include my tax-deferred IRAs? If so, this results in my after-tax contribution money being taxed a second time during the conversion. Is this correct?
‎June 4, 2019
6:46 PM