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Dec 18, 2024
12:21:26pm
Acorn All-American
Based on the details you state (you have an IRA), you will create an absolute
record keeping nightmare for the rest of your live (and I think as well, your heirs) if you do a backdoor Roth. You may be misidentifying what you plan to do, but a back door roth typically involves depositing after tax contributions into your IRA and then converting those isolated after tax contributions it to a Roth. The "back door". The problem is, if you have a regular IRA, you can't isolate those after tax contributions.

I am guessing that there are many, many people that have created a mess and have no clue. Fortunately, the IRS success of finding tax cheats or uninformed tax payers is very, very low.

Converting an IRA to a roth is completely straightforward process and evaluation. Simple even. No worries there, but that isn't a back door roth.
This message has been modified
Originally posted on Dec 18, 2024 at 12:21:26pm
Message modified by Acorn on Dec 18, 2024 at 12:22:15pm
Message modified by Acorn on Dec 18, 2024 at 12:22:49pm
Message modified by Acorn on Dec 18, 2024 at 12:23:25pm
Acorn
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Acorn
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