Maybe someone more familiar can

Dec 26, 2024
12:09:59pm

BYU71 Old Fellow

explain the advantage of first putting it in a 401K and then moving it to a Roth.

You still pay taxes on the disbursement to the IRA?

Does it have to do with the amount that can be transferred??

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BYU71

Bio page: BYU71
Joined: Apr 23, 2001
Last login: Dec 27, 2024
Total posts: 69,366 (1,565 FO)

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Messages

Author

Time

Question for Backdoor Roth IRA experts

RBLegend

Dec 26, 10:15am

No. There is no way around it.

allaboutthegainz

Dec 26, 10:20am

You will need to move your IRA to your 401K

PCCoug

Dec 26, 10:20am

Not an expert. Didn''t do one thinking I

BYU71

Dec 26, 10:24am

That would be my preference, but I don’t want to do a Roth conversion so it

RBLegend

Dec 26, 10:37am

Maybe someone more familiar can

BYU71

Dec 26, 12:09pm

The issue is this:

RBLegend

Dec 26, 12:37pm

Hopefully this makes sense

PCCoug

Dec 26, 2:04pm

Petition your employer to add both a Roth and a Mega Roth option

Acorn

Dec 26, 10:55am

There is no reason to transfer money from an IRA to a 401k, but to do a Backdoor

Hinta

Dec 26, 11:14am

If you’re trying to not be taxed on a Roth conversion, yes there is.

allaboutthegainz

Dec 26, 11:17am

You can't avoid the taxes on a Roth conversion

Hinta

Dec 26, 11:19am

He is referring to a "back door" roth conversion. Not a normal conversion.

Acorn

Dec 26, 11:20am

If it’s all nondeductible contributions, you can.

allaboutthegainz

Dec 26, 11:25am

Every time I read about this backdoor stuff I feel like an idiot because it’s all just gibberish to me, and I have

Mike Honcho

Dec 26, 11:34am

Leave some in an IRA. Then if you live long enough (70.5) you can pay church

Florwood

Dec 26, 11:47am

Yes you can. It isn't always advantageous.

BYU71

Dec 26, 12:19pm

The best financial period for conversions is just after retirement...

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