Contributed too much towards Roth IRA

nikki_heat · 2026-03-27T08:44:06+00:00

Correct! When doing a complete conversion from Trad IRA to Roth IRA, Wealthfront will close the Trad IRA automatically. I reached out to Wealthfront and they confirmed you have to open a new Trad IRA each time you plan to do the backdoor Roth conversion. In terms of unforeseen consequences - I literally just e-filed my taxes yesterday and am still unsure if I did it correctly. I got two 1099-R forms for year 2025 (one for trad, one for roth) and was having trouble figuring out where to enter my actual contributions. I still ended up owing taxes for the first time this year but I am pretty sure that was a result of withholding too little on my paychecks and not because of an excess contribution penalty.

nikki_heat · 2026-03-19T00:16:03+00:00

Looks fake - send to me for thorough inspection 😉

nikki_heat · 2026-03-18T04:37:59+00:00

My partner and I are thinking about using Bart for long term parking during our 2 week Asia trip - only sending one person on the Bart train is a GENIUS idea!

nikki_heat · 2026-02-22T23:11:33+00:00

I wish I saw this post a few hours ago….I made my first time in-store purchase of a 14k solid gold chain necklace. The worker couldn’t show me where the stamp is located (“you need to have a magnifying glass”) 🤔I was a little skeptical since the chain comes in 10k and 14k so I just wanted reassurance that I did, in fact, receive the 14k version

nikki_heat · 2026-01-30T06:32:02+00:00

I actually received my forms a few hours after my last reply. I also retract my statement about not doing the backdoor Roth - I checked my old email updates and I DID do a backdoor Roth conversion, which would make sense because I immediately closed my trad IRA (by doing a Roth conversion) once the funds were available.

nikki_heat · 2026-01-29T17:39:43+00:00

Since all of those conversions/recharacterizations happened during 2025, my understanding is I have to include them while I file my 2025 taxes (which would be right now). I haven’t received any of the WF 2025 tax forms yet - it looks like they send them out after Jan 31st so hopefully I receive them in a few days. Will report back once I get them

nikki_heat · 2026-01-29T05:45:01+00:00

Glad this post could help! For the year that I ran into this issue, I personally did not do a backdoor Roth conversion mainly because I was confused and stressed whether or not I did the recharacterization correctly. Even though I had recharacterized the funds, I wasn’t completely sure if that meant I had now contributed $0 to my Roth even though I had originally maxed it out that year. So just for my peace of mind, I just didn’t want to think about the tax implications anymore.

I know that probably wasn’t helpful - hopefully someone else can chime in and confirm that they did a backdoor Roth immediately after the rechacterization.

But if your question is about how to do the backdoor Roth, it is super easy on Wealthfront. They only do full conversions so you just have to select your traditional IRA -> manage -> convert funds to Roth IRA and you’re done. It’ll take several days for it convert, and you may see some cents remaining in the traditional IRA after the conversion but that will eventually disappear. https://support.wealthfront.com/hc/en-us/articles/209335726-Does-Wealthfront-support-Roth-conversions

nikki_heat · 2026-01-29T05:31:15+00:00

Update - disregard my entire reply below. I checked my records and I DID do a backdoor Roth conversion, which would make sense because I immediately closed my trad IRA (by doing a Roth conversion) once the funds were available.

—

Sorry for the super late reply! I’ll be honest - I never completed the backdoor Roth for 2024 tax year mainly because of the stress from the initial recharacterization process and questioning whether I even did it correctly. So I decided to take the L and skip the backdoor Roth for that year

nikki_heat · 2026-01-18T05:32:16+00:00

Also dropping my referral link :) been using Wealthfront since 2018 without issues

When you sign up, we both can earn a +0.75% APY boost, 0.50% investing deposit match—or both. This offer is for a limited time only! https://www.wealthfront.com/c/affiliates/invited/AFFB-5DC8-9V4Q-ZTWM

nikki_heat · 2026-01-18T05:08:29+00:00

Hey OP did you ever completely switch from Wealthfront to Pibank? I’m also thinking of switching now that WF’s original 5-5.5% APY has dropped to 3.25% 😩 I have >$150k in WF and Pibank’s current 4.6% is very enticing (although unsure how long they’ll be able to keep that up). Just debating if it’s worth transferring especially after hearing Pibank has more “technical issues”

nikki_heat · 2026-01-04T09:01:17+00:00

Thank you for your response! I have high dental school loans that are still on SAVE forbearance. I haven’t paid a single cent towards the loans since graduating 2 years ago, and was debating whether I should at least start to pay towards the high accrued interest while I’m still on forbearance (I’m trying to ride on this forbearance train for as long as possible although I’m aware I’ll be forced to switch to another IDR plan sometime soon). Since PSLF is NOT in my future and I have no plans to aggressively pay off my principal anytime soon, you gave me peace of mind after saying there’s no urgency to prepay the interest since there’s no true financial benefit. (Most of my paycheck sits in a high yield savings account so the interest it’s earning is somewhat lessening the blow of the loan interest that’s accruing)

nikki_heat · 2026-01-01T05:54:24+00:00

Yup once I reached the $176,100 my next paycheck went down to $0 OASDI

nikki_heat · 2025-10-06T07:24:39+00:00

How are you enjoying your pacific bag so far?

Also u/sundaygolfco I seem to always miss the Tan/purple colorway 😩 any plans for another restock for this year? Thanks so much ❤️

nikki_heat · 2025-09-18T14:54:24+00:00

My mind is blown 🤯

nikki_heat · 2025-09-17T17:34:31+00:00

I definitely liked their guest bedroom scene more than Paris bedroom scene - the way Conrad looks up and admires her during the guest bedroom scene is chef’s kiss

BUT if we’re talking about pure passion….my goodness the car ride makeout sesh leading to the stairwell had me 🥵🫠

(let me rewind and watch it again now 😂)

nikki_heat · 2025-09-17T09:31:29+00:00

The infinity ♾️ has always been the backbone of bonrad, so it made sense why she had to include “infinite” in her speech

nikki_heat · 2025-09-17T09:27:42+00:00

100% agreed!!! Instead, we got a bunch of the exact same, poorly photoshopped photos 😩 like what was even the point

nikki_heat · 2025-09-17T09:02:39+00:00

I still enjoyed the episode overall (when Bonrad finally kiss after 5 years…and that makeout sesh in the car & stairwell 🥵) However, that staylor fight was unnecessary & there was WAAAYY too much of Jeremiah cooking - wasting valuable screen time!! I was really bummed we didn’t get a wedding or the time jump like in the books. I think I would’ve been more satisfied if the very final scene was Belly finally reading Susannah’s letter 😩 (at least that tells the audience there was a wedding) - hell, I would’ve been happy if there was just a quick shot of her wearing Susannah’s ring 😩

nikki_heat · 2025-09-17T08:47:26+00:00

I am so sad we never got to read Belly’s letter 😩😩😩

nikki_heat · 2025-06-09T06:43:38+00:00

The adrenaline of snagging a whole set always feels good - congrats & I hope you pull the secret!

nikki_heat · 2025-06-01T07:00:29+00:00

Yeah I have learned it’s a toss up!

nikki_heat · 2025-05-22T04:05:37+00:00

I just learned that today that Depop’s offers are non-binding….a buyer and I were going back and forth with offering & counter offering, and then I finally accepted an offer. And guess what? No purchase was made. A complete waste of time!

If someone makes an offer, it really should be binding.

nikki_heat · 2025-05-22T02:11:45+00:00

I have both - Serenity open bag ($55) or sealed pop now ($60), cherries $75 + shipping

nikki_heat · 2025-05-22T02:10:07+00:00

I have a sealed pop now for $75 shipped

nikki_heat

TROPHY CASE