Investing General Discussion

D

Dandrools

Molten Core Raider
34
4
Kithani said:
Just look up how to do a backdoor Roth, wife and I do this every year.
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He said he has a Rollover IRA. If he follows the backdoor Roth process the conversion will be subject to the pro rata rule. Depending upon the balance in the Rollover IRA he may end up owing tax on nearly the entire converted amount.
 
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Kithani

Kithani

Blackwing Lair Raider
1,664
2,325
Dandrools said:
He said he has a Rollover IRA. If he follows the backdoor Roth process the conversion will be subject to the pro rata rule. Depending upon the balance in the Rollover IRA he may end up owing tax on nearly the entire converted amount.
Click to expand...
I would prob just convert the whole thing personally but I’ve never been in that situation so never went down the rabbit hole on it
 
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