Yes, both of the above will create pro-rata issues.This year we will be exceeding the income limit to conrtibute to ROTH IRA , i was thinking of doing a non deductible IRA and then converting it to ROTH , but we have these accounts other than our ROTH IRA , Can you tell me am i subject to pro-rata rule , if yes how can i avoid the taxes .
Her :
Rollover IRA : 37k
Him:
SEP IRA : 10K
To avoid this you'd need to roll them into a 401k of some kind, either a solo 401k or another employer's 401k plan.
Statistics: Posted by MP123 — Wed Jul 24, 2024 12:07 pm — Replies 1 — Views 33