- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Roth Income Limits and Backdoor
Posted on 1/19/24 at 7:58 pm to LSUFanHouston
Posted on 1/19/24 at 7:58 pm to LSUFanHouston
Wait. I'm confused but definitely appreciate this tread.
I contributed with after tax money $7k in 2020 and 2021. Total of $14k. I always thought, not sure why, that those funds are technically treated like a Roth as it's taxed funds. As such, I've simply left it alone thinking I could pull it tax free at retirement.
Seems that my logic is flawed. That being said, if I wanted to backdoor the full $14k plus gains on it, what am I looking at? Am I hit with this Pro Rata tax that I'm discovering in this conversation?
I contributed with after tax money $7k in 2020 and 2021. Total of $14k. I always thought, not sure why, that those funds are technically treated like a Roth as it's taxed funds. As such, I've simply left it alone thinking I could pull it tax free at retirement.
Seems that my logic is flawed. That being said, if I wanted to backdoor the full $14k plus gains on it, what am I looking at? Am I hit with this Pro Rata tax that I'm discovering in this conversation?
Popular
Back to top
Follow TigerDroppings for LSU Football News