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re: Backdoor Roth question
Posted on 12/30/19 at 10:56 pm to GeauxTigers777
Posted on 12/30/19 at 10:56 pm to GeauxTigers777
Money hads already been taxed, so only gains between contribution and conversion are taxable... conversion happens within a month or two usually, so gains (if there are any) are minimal
Posted on 12/31/19 at 7:01 am to jrobic4
quote:
Money hads already been taxed, so only gains between contribution and conversion are taxable... conversion happens within a month or two usually, so gains (if there are any) are minimal
Contributions into a traditional IRA are deductible therefore they have not been taxed. 100% of the converted amount is taxable in most cases.
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