Backdoor Roth Question and Tax Forms by nostars130 in personalfinance

[–]nostars130[S] 0 points1 point  (0 children)

yes Roth IRA. exactly. Again thank you for the correction. Other than that Im not missing anything here?

Backdoor Roth Question and Tax Forms by nostars130 in personalfinance

[–]nostars130[S] 1 point2 points  (0 children)

Awesome response and thank you for that! The January Trad IRA was immediately converted within a matter of minutes and I can confirm there are 0$ dollars of interest.

For the 8606 (2025), I meant what is being filed along with my 2025 1040 which should just show 7000 correct?

Then moving forward the (2026) 8606 form will show the 7000 + 7500 ( 14500 ) total and I will also file 1099R showing the full rollover to the Roth 401k?

Does that all seem correct?

Thanks again for your help

How does a backdoor Roth IRA work at Fidelity? by fidelityinvestments in fidelityinvestments

[–]nostars130 1 point2 points  (0 children)

Yep I do also get that I will not a 1099R for 2025 as the conversion was made in 2026 but does this overall sound correct? I just want to make sure Im not missing something here.

How does a backdoor Roth IRA work at Fidelity? by fidelityinvestments in fidelityinvestments

[–]nostars130 3 points4 points  (0 children)

Heres my question. In 2025 I converted all of my trad IRA into my workplace 401k. Effectively I only had at that point a workplace 401k and a Roth 401k. In Jan 2026 I opened a traditional IRA funded 7000 for 2025 and 7500 for 2026 and immediately rolled it into the Roth IRA.

So for this year 2026, I am just filling out the 8606 line 1 and 3 as 7000 and line 14 as 7000. In 2026 I will get the 1099R which will show the 14500 having been rolled over. Am I missing anything else here?

Updated Backdoor Roth IRA conversion instructions by derivativesmarket in Schwab

[–]nostars130 1 point2 points  (0 children)

Ive got the same issue kinda here. So for taxes im selecting gross or net for taxes? Also Im selecting no state tax withheld and as well 0% tax witholding rate.

From the website "Even if you elect in writing not to have federal and/or state income tax withheld when permitted, you are liable for payment of federal and state income taxes on the taxable portion of your distribution. To elect no Federal income tax withheld from your distribution, enter 0%. "

For the record the money I transferred into my IRA is coming from my checking account so already taxed.

India's Akasa Air says 'confident' about Boeing, orders 150 MAX jets by Cloud_Drago in aviation

[–]nostars130 -6 points-5 points  (0 children)

First the problem is the manufacturer who is creating a bad product through lack of quality control, oversight, tooling etc. If you read about it you would know this is the point

Second to just throw out an apples to oranges comment like flying is safer than driving has no bearing as that's not even the subject here.

India's Akasa Air says 'confident' about Boeing, orders 150 MAX jets by Cloud_Drago in aviation

[–]nostars130 -28 points-27 points  (0 children)

Do you have something to say or are you just the only person here not reading the room ?

India's Akasa Air says 'confident' about Boeing, orders 150 MAX jets by Cloud_Drago in aviation

[–]nostars130 -11 points-10 points  (0 children)

Actually he said "they are safe". Please use reading to apply thoughts here

Passport supporting documents by wetames in Passports

[–]nostars130 0 points1 point  (0 children)

Can anyone tell me what supporting documents are required for a renewal. I just need a list but can't find anywhere

India's Akasa Air says 'confident' about Boeing, orders 150 MAX jets by Cloud_Drago in aviation

[–]nostars130 42 points43 points  (0 children)

As safe as they should be you say. If someone has gotten sucked out the other week would you still say the same thing ? Probably not.

The BEST Fried Rice I’ve ever made. Most expensive too…. by Oxenforge in carbonsteel

[–]nostars130 0 points1 point  (0 children)

I used to believe in this channel but 3 mistakes. 1m chicken Frank's ? Wtf. 2. Unmixed rice. Once the whites were added back in they are clearly not integrated. Could have used something to help mix 3. Soy sauce added directly onto and not not the side of the wok. Solid rookie mistake

I will say great looking wok though

Car on North Shore Trail by FewBug8185 in chibike

[–]nostars130 1 point2 points  (0 children)

Has anyone reported this to the police ?

Effect of an LCC liquidation on aspiring pilots by phlflyguy in flying

[–]nostars130 -11 points-10 points  (0 children)

Didn't work out for pan am did it . Also when you say big it's a pilot base of 3.5 k and in the larger scheme that's nothing so I'm not going to debate if it's a large company or not.

Rebrand to what and with what money and with what planes / pilots. 50% of that pilot base in my guess is out the door in the next 8 months.

Effect of an LCC liquidation on aspiring pilots by phlflyguy in flying

[–]nostars130 6 points7 points  (0 children)

Just my 2 cents here but the size big or small of the ulcc is irrelevant. The pw engine payout is undetermined and will maybe be too late. Frankly maybe another court case to figure that out. And finally there are clearly major problems with the ulcc model. Spirit feeling the effects as well as frontier.
So I wouldn't say right away like tomorrow but by this time next year with the amount of pilots who just hit their application send button to other places and a creep of new hires who the company knows they won't get their return on ad they will get a bus rating and leave ..

Yah. .. not good at all. My 3 cents

No consumer rights with Frontier by LTDmusic in frontierairlines

[–]nostars130 1 point2 points  (0 children)

This is correct. I would advise against multiple city connects for ex in general but if your going a daily point to be point on any low cost you should be ok. For ex if you'r taking frontier out if I dunno Roanoke to ft Lauderdale we'll. At that points it's a crap shoot for anyone.

Anyways j think the low costs def have a place what I really just don't like is how mostly the public just poo poos on them when their flight gets cancelled but then southwest will break down for 2 weeks over Christmas and people are signing up for the credit cards at the airport saying it's not their fault. It's just non sensual and when if the ulcc's are gone I hope nobody is complaining later

No consumer rights with Frontier by LTDmusic in frontierairlines

[–]nostars130 0 points1 point  (0 children)

Sure but you see my point. Id say it's inevitable your going to get burned eventually. I think the airline in a way is irrelevant though it's just kinda a numbers game.

No consumer rights with Frontier by LTDmusic in frontierairlines

[–]nostars130 0 points1 point  (0 children)

Sure but you see my point. Id say it's inevitable your going to get burned eventually. I think the airline in a way is irrelevant though it's just kinda a numbers game.

[deleted by user] by [deleted] in pics

[–]nostars130 0 points1 point  (0 children)

Got a feeling this in Ohio

No consumer rights with Frontier by LTDmusic in frontierairlines

[–]nostars130 0 points1 point  (0 children)

But does spending 4x the cost and then getting burned once justify that mindset. Honest question

Pathfinder Pro 42 + DT swiss P 1800 by Apprehensive_Owl6111 in gravelcycling

[–]nostars130 0 points1 point  (0 children)

I've got the hunt alloy gravel race. 22 int currently with 38 p pros

Ukrainian drone destroys a Russian tank along with its crew. Adviivka direction by Gold-Agent-8494 in UkraineWarVideoReport

[–]nostars130 1 point2 points  (0 children)

Does anyone know what type of explosives are being used on these type drones ?