I'm trying to do a backdoor roth conversion this year in vangaurd and I think I fucked up. Here's what I've done:
- Contributed 5500 to an existing Traditional IRA that already has ~20k in it
- Purchased shares of the existing target date fund in the TIRA account (Funds did not go to settlement account, i think this is where i screwed up)
- Opened an empty Roth IRA
I plan to invest in the same target date fund in the RIRA. What are the tax implications of exchanging the funds from the TIRA to the RIRA rather than doing it with funds from the settlement fund? All the examples of backdoors I found online transfer from the settlement fund.
Submitted December 30, 2018 at 10:08AM by fetherston http://bit.ly/2EUUue9
