Thank you for the confirmation.
I thought all questions covered, but then last one popped up...
When I do backdoor Roth IRA (legal term Roth IRA conversion), I have to convert $6000 which I contributed in 2019 OR $6000 + any earnings happened on $6000 from Jan 2019 till the date when I convert to Roth IRA?
If I have to do $6000 + earnings, then how would we determine earnings?
I did talk to the firm holding my account and they said that I have to determine earnings by myself for conversion. If I were to do recharacterization or excess removal, then they can calculate it for me, but NOT for Traditional IRA to Roth IRA conversion.
Thanks.
Thanks,
Bhavik
