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Retirement tax questions
Using form 8606 I had contributed to non-deductible IRA prior to availability of ROTH IRA. I would like to convert to ROTH IRA. Since I have another traditional IRA( this account deductible amount), if I convert this deductible traditional IRA to ROTH IRA during this year 4th quarter, do I still need to do pro-rata calculation on non-deductible IRA if I convert this non-deductible to ROTH in 4th quarter as well ? Was thinking since I converted my only taxable IRA to ROTH IRA, no need to pro-rata and pay no tax this year for this non-deductible amount.
Thanks
‎July 19, 2019
1:30 PM