Hi,
So I have a question. I contributed $6500 to my traditional IRA and indicated it for 2023, however my Roth conversion from the Trad IRA to Roth IRA didn't happen until 1st Jan 2024 and I know we need to have the backdoor roth conversion happen by 31st Dec 2023 to count for 2023 .
So now can I add $500 to my Trad IRA and convert that to Roth that way I have $7K for my 2024 and basically nothing for 2023?
So I have a question. I contributed $6500 to my traditional IRA and indicated it for 2023, however my Roth conversion from the Trad IRA to Roth IRA didn't happen until 1st Jan 2024 and I know we need to have the backdoor roth conversion happen by 31st Dec 2023 to count for 2023 .
So now can I add $500 to my Trad IRA and convert that to Roth that way I have $7K for my 2024 and basically nothing for 2023?
Statistics: Posted by catchsaranya — Wed Jan 03, 2024 1:07 pm — Replies 2 — Views 104