I also was interested in doing a backdoor ROTH IRA as well this year, and my research shows the rules changed a bit. Does the above still apply? Is it a sum of all traditional IRA accts?
I was hoping to open a new traditional IRA acct, deposit post-tax $6000 and then convert to ROTH.
It seems as long as you take a full distribution, then you can separate the amounts that are pre-tax and post-tax, if you have both.
The below was found at www.irs.gov/retirement-plans/rollovers-of-after-tax-contributions-in-retirement-plans
Prior distribution rules
Prior to the 2014 guidance, each distribution from a participant’s account contained a pro rata share of both the pretax and after-tax amounts. For example, if a participant’s account was 80% pretax, then each distribution or rollover was made up of 80% pretax and 20% after-tax. A transfer of pretax amounts to one destination and after-tax amounts to another could have been done through a 60-day rollover, but the distribution was subject to mandatory 20% withholding on the pretax amounts.
Transition rules
Taxpayers can use the new rule for distributions on and after September 18, 2014. For distributions prior to September 18, 2014, taxpayers can also use the new rule, except for distributions from designated Roth accounts.
Still confusing as hell though.
