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Retirement tax questions
HI,
Sorry for the late response as I was out..
1. In this case, when I convert fund from Traditional IRA to Roth IRA and its considered as Backdoor Roth IRA or Rollover Roth IRA and NOT recategorization of Traditional IRA to Roth IRA, then when I am filing the taxes for 2019, how do I show rollover to Roth IRA in tax return for 2019? OR do I really need to show anything?
2. I read in your response as well as in other post online somewhere that Once I have contributed to Traditional IRA, I have to immediately rollover to Roth IRA to be considered as Backdoor Roth IRA. What is the duration required for the term "Immediately"? Is there any time limit in which I have to rollover?
FYI... I had contributed in Jan 2019 for 2019 Traditional IRA and now it is Feb 2020.
Thanks.