Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
coachtom4,

You wrote, Joel, one word of warning with the advice below. It doesn't work if the person has any other tax deferred IRA money. The conversion of the basis to Roth is pro-rata on ALL IRA's so some of the conversion may be taxable if you also have some tax deferred IRA's.

You're right. And I actually have that dilemma myself. I've been thinking about resolving it this year by rolling my IRA into my 401(k). I need to act on rolling it into the 401(k) soon or I might miss out on the opportunity to make a back-door Roth IRA contribution for yet another year.

- Joel
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement