Quote:
Originally Posted by RE2Boys
When doing conversions, the IRS look at ALL your T-IRA and SEP-IRAs that existed in your name, not just the temporary one you set up for the back door conversion. When you do a T-IRA to Roth conversion and have basis in any of your T-IRAs, the IRS looks at it as you've converted a percentage of ALL your T-IRAs and use up only that percentage of your basis. So if you have other T-IRAs, no matter how old, you most likely WILL be paying taxes on some percentage of the conversion.
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Exactly right.
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Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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