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Started By
Message
Backdoor Roth IRA
Posted on 1/3/17 at 9:05 am
Posted on 1/3/17 at 9:05 am
How long should I wait to make the conversion after setting up a traditional IRA? Does it matter? I've heard some say wait a year, some 3 months and some say a few days is fine.
This post was edited on 1/3/17 at 9:06 am
3
Posted on 1/3/17 at 12:31 pm to Salamander_Wilson
You should do it as soon as possible to avoid any tax implications.
Posted on 1/3/17 at 12:48 pm to Htown Tiger
quote:
You should do it as soon as possible to avoid any tax implications.
Que?
Posted on 1/3/17 at 1:26 pm to Salamander_Wilson
I usually donate the full $5500 to the traditional IRA, wait for the transaction to be completed, then immediately backdoor/convert to the ROTH IRA.
Posted on 1/3/17 at 3:51 pm to Salamander_Wilson
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