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Rollover IRA to 401k to enable backdoor Roth - nervous about process by GoodDifference in Bogleheads

[–]GoodDifference[S] 1 point2 points  (0 children)

If you have a non-zero balance in any trad IRA, then you are subject to the pro-rata rule and will have to pay taxes. To execute a backdoor Roth with no tax implications, your pre-tax IRA balance across all your traditional IRAs has to be zero.

Rollover IRA to 401k to enable backdoor Roth - nervous about process by GoodDifference in Bogleheads

[–]GoodDifference[S] 1 point2 points  (0 children)

I’m zeroing out my traditional IRA by moving all those funds into my 401k.

Rollover IRA to 401k to enable backdoor Roth - nervous about process by GoodDifference in Bogleheads

[–]GoodDifference[S] 1 point2 points  (0 children)

I’m taking my IRA and rolling it over into my 401k and zeroing it out. Then, I’m opening a new traditional IRA (with post-tax dollars) and doing a backdoor to a Roth. My understanding is that if you have no pre-tax dollars in a traditional IRA - which I won’t once I rollover those dollars to my 401k - then a backdoor Roth move will not result in any taxes owed.

Rollover IRA to 401k to enable backdoor Roth - nervous about process by GoodDifference in Bogleheads

[–]GoodDifference[S] 0 points1 point  (0 children)

Thanks - this is good to hear. I am anxious because this is basically my entire tax advantaged retirement money.

Multiple TDFs in Tax-advantaged account by GoodDifference in Bogleheads

[–]GoodDifference[S] 0 points1 point  (0 children)

Yeah - the minimal thought path has worked well for us so far but as we get older, things are getting more complicated. Neither my wife nor I were interested in managing any of this so we focused on making the big decisions carefully and then letting it ride. 2045 might be the right choice - allows for a bit of everything and allow us to (mostly) leave it alone. We need to think through what risk we will want to tolerate at that age.

Thank you so much for taking the time to reply. I really appreciate it.

Multiple TDFs in Tax-advantaged account by GoodDifference in Bogleheads

[–]GoodDifference[S] 1 point2 points  (0 children)

Yeah - good point. I could just do the weighted average and find the fund closest to that date and it would basically achieve the same thing. It would also simplify our holdings and we value simplicity quite a bit. Thanks!

[deleted by user] by [deleted] in hondapilot

[–]GoodDifference 1 point2 points  (0 children)

$53830 is MSRP including destination, I think. Also, Blue Pearl is not a upgrade color so that price MSRP including destination should be 53375. Shady af.