I’m in my early 30s and have about $75K invested in a traditional IRA Betterment account that I’ve been contributing to for several years.
I’d like to start doing a backdoor Roth IRA starting in 2021 since I don’t qualify for it directly. However, I am trying to figure out what to do with my existing traditional IRA. Should I rollover my traditional IRA to my employer-provided traditional 401K or try to convert to a Roth IRA?
One key call out - I’ve been contributing to this traditional IRA with after-tax income. From a tax filing perspective, I haven’t indicated the traditional IRA amounts are being funded with after-tax income. Is there anything I can do to ensure I don't get double taxed on this?
Any help would be greatly appreciated!
Submitted December 27, 2020 at 08:28PM by operationshiny https://ift.tt/3hm8M8Q
