Personal Investments • Backdoor Roth IRA Pro-Rata rule

In January, I executed a Backdoor Roth IRA with a $7,000 contribution. At that time, my Traditional IRA had a balance of $0. In March, I rolled over a Traditional 401(k) into my Traditional IRA, totaling $40,000.

Will I now be subject to taxes because of the Pro-Rata rule? If so, what amount will I be taxed on?

Statistics: Posted by Gash — Sun Jun 23, 2024 8:21 pm — Replies 5 — Views 249

---