Thanks for your response- to double check:
You can leave the traditional IRAs separate or combine them, it doesn't really matter. It might make things a little easier to leave the non-deductible basis in one IRA and the rest in the second, such that you can do a full rollover of the second account, but again, that's just for convenience.
There's not quite enough in either traditional by itself to cover the entire nondeductible portion, but there is enough to take the entire pre-tax portion from either of them. But that step must be done first- the reverse rollover? Then convert the remaining nonded basis in the 2 iras into one roth ira or into 2 roth iras? Any advantage to keeping tIRA and roth accounts at both brokerages?
When is it best to do the 2024 ira to backdoor roth ira conversion during all of this? First?
Once everything is settled in the roth ira- then it sounds like I'm starting fresh with the allocations if I've put the basis in a mmf? Or is there a way to just move the holdings directly from the ira to the Roth ira without selling and rebuying?
You can leave the traditional IRAs separate or combine them, it doesn't really matter. It might make things a little easier to leave the non-deductible basis in one IRA and the rest in the second, such that you can do a full rollover of the second account, but again, that's just for convenience.
There's not quite enough in either traditional by itself to cover the entire nondeductible portion, but there is enough to take the entire pre-tax portion from either of them. But that step must be done first- the reverse rollover? Then convert the remaining nonded basis in the 2 iras into one roth ira or into 2 roth iras? Any advantage to keeping tIRA and roth accounts at both brokerages?
When is it best to do the 2024 ira to backdoor roth ira conversion during all of this? First?
Once everything is settled in the roth ira- then it sounds like I'm starting fresh with the allocations if I've put the basis in a mmf? Or is there a way to just move the holdings directly from the ira to the Roth ira without selling and rebuying?
Statistics: Posted by Ctf — Tue Mar 12, 2024 6:30 pm — Replies 2 — Views 165