Hello.
I have a Rollover IRA in which I have consolidated all my past employer 401k at Fidelity. The funds are all pre-tax dollars.
To avoid dealing with the pro rata rule when wanting to do a back door Roth, should I roll my current funds of my Rollover IRA into my current employer 401k, then open up a regular Traditional IRA and contribute the max limit of $7000 for the year and then do the back door Roth?
My understanding of the pro rata rule is when you have an IRA with pre and post tax dollars that it can complicate the backdoor, but what if all the funds in a Rollover IRA is all pre-tax?
I understand my contributions into a traditional IRA to do the backdoor Roth is not tax-deductible aka post tax funds.
I have a Rollover IRA in which I have consolidated all my past employer 401k at Fidelity. The funds are all pre-tax dollars.
To avoid dealing with the pro rata rule when wanting to do a back door Roth, should I roll my current funds of my Rollover IRA into my current employer 401k, then open up a regular Traditional IRA and contribute the max limit of $7000 for the year and then do the back door Roth?
My understanding of the pro rata rule is when you have an IRA with pre and post tax dollars that it can complicate the backdoor, but what if all the funds in a Rollover IRA is all pre-tax?
I understand my contributions into a traditional IRA to do the backdoor Roth is not tax-deductible aka post tax funds.
Statistics: Posted by sokk55 — Tue Apr 02, 2024 10:08 am — Replies 11 — Views 339
